Editas Medicine Inc. (EDIT) Sees Unusually-High Trading Volume
Editas Medicine Inc. (NASDAQ:EDIT) saw unusually-strong trading volume on Friday . Approximately 185,902 shares changed hands during mid-day trading, an increase of 33% from the previous session’s volume of 139,660 shares.The stock last traded at $27.25 and had previously closed at $25.84.
A number of research analysts have issued reports on EDIT shares. Vetr raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price target for the company in a report on Monday, May 9th. Cowen and Company reiterated a “buy” rating on shares of Editas Medicine in a research note on Monday, May 16th. Zacks Investment Research lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, May 18th. Finally, Jefferies Group initiated coverage on shares of Editas Medicine in a research note on Thursday, June 2nd. They issued a “hold” rating and a $35.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $33.50.
The firm has a 50 day moving average price of $27.73 and a 200-day moving average price of $30.28. The firm’s market cap is $954.38 million.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Monday, May 16th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.30) by $0.50. The business had revenue of $0.80 million for the quarter, compared to the consensus estimate of $1.08 million. Equities research analysts forecast 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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