Editas Medicine Inc. (EDIT) Shares Down 2.4%
Shares of Editas Medicine Inc. (NASDAQ:EDIT) dropped 2.4% during trading on Thursday . The stock traded as low as $24.68 and last traded at $24.77, with a volume of 89,957 shares traded. The stock had previously closed at $25.37.
EDIT has been the subject of several research reports. Zacks Investment Research cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Tuesday, May 24th. Jefferies Group started coverage on shares of Editas Medicine in a report on Thursday, June 2nd. They set a “hold” rating and a $35.00 price target for the company. Vetr upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 target price for the company in a research note on Monday, May 9th. Finally, Cowen and Company reiterated a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.50.
The firm’s market capitalization is $870.59 million. The stock’s 50 day moving average price is $29.02 and its 200-day moving average price is $30.49.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Monday, May 16th. The company reported ($0.80) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.50. The firm earned $0.80 million during the quarter, compared to the consensus estimate of $1.08 million. On average, equities analysts predict that Editas Medicine Inc. will post ($2.35) EPS for the current fiscal year.
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/CRISPR associated protein 9 (Cas9) technology.
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