Editas Medicine (NASDAQ:EDIT) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH initiated coverage on shares of Editas Medicine (NASDAQ:EDIT) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $6.00 target price on the stock.

A number of other research analysts have also recently commented on EDIT. Chardan Capital boosted their price objective on Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Editas Medicine Stock Performance

NASDAQ EDIT opened at $2.94 on Tuesday. The firm has a market capitalization of $451.53 million, a price-to-earnings ratio of -3.92 and a beta of 2.14. Editas Medicine has a one year low of $1.66 and a one year high of $4.54. The company’s 50 day moving average price is $2.92 and its 200 day moving average price is $2.70.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.12. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%. The company had revenue of $11.89 million during the quarter, compared to the consensus estimate of $2.85 million. Sell-side analysts forecast that Editas Medicine will post -0.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Gilmore Neil O’neill sold 15,380 shares of Editas Medicine stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $2.70, for a total value of $41,526.00. Following the completion of the transaction, the chief executive officer directly owned 248,313 shares in the company, valued at approximately $670,445.10. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,503 shares of company stock valued at $57,910 in the last three months. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Editas Medicine

A number of large investors have recently bought and sold shares of EDIT. BlackRock Inc. bought a new stake in Editas Medicine during the 2nd quarter valued at $34,312,000. ADAR1 Capital Management LLC bought a new position in shares of Editas Medicine in the second quarter worth $28,800,000. Renaissance Technologies LLC increased its holdings in shares of Editas Medicine by 30.7% during the first quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company’s stock valued at $9,811,000 after purchasing an additional 932,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Editas Medicine by 122.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock valued at $3,016,000 after purchasing an additional 1,430,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Editas Medicine by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 2,284,740 shares of the company’s stock valued at $4,685,000 after purchasing an additional 244,574 shares in the last quarter. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.