Editas Medicine, Inc. (NASDAQ:EDIT) Receives $7.00 Average PT from Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been given an average rating of “Hold” by the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $7.00.

EDIT has been the subject of several recent research reports. Evercore ISI cut their price target on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Bank of America downgraded shares of Editas Medicine from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $13.00 to $1.00 in a research report on Monday, November 25th. Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Stifel Nicolaus downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating and lowered their price objective for the company from $11.00 to $3.00 in a research report on Friday, December 13th. Finally, Raymond James downgraded shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th.

Editas Medicine Trading Up 83.9 %

Shares of EDIT stock opened at $3.20 on Friday. The stock has a market cap of $264.15 million, a P/E ratio of -1.25 and a beta of 1.94. The stock has a 50 day simple moving average of $1.36 and a 200 day simple moving average of $2.60. Editas Medicine has a 1 year low of $1.12 and a 1 year high of $11.58.

Institutional Trading of Editas Medicine

Institutional investors have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. boosted its position in shares of Editas Medicine by 133.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after purchasing an additional 302,652 shares in the last quarter. Barclays PLC boosted its position in shares of Editas Medicine by 46.9% during the 3rd quarter. Barclays PLC now owns 178,507 shares of the company’s stock worth $607,000 after purchasing an additional 56,986 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Editas Medicine by 37.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock worth $187,000 after purchasing an additional 14,888 shares in the last quarter. FMR LLC boosted its position in shares of Editas Medicine by 110.7% during the 3rd quarter. FMR LLC now owns 203,087 shares of the company’s stock worth $693,000 after purchasing an additional 106,684 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Editas Medicine during the 3rd quarter worth about $240,000. Institutional investors own 71.90% of the company’s stock.

About Editas Medicine

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.