JPMorgan Chase & Co. reiterated their hold rating on shares of Editas Medicine (NASDAQ:EDIT) in a report released on Thursday morning.
A number of other research firms have also recently weighed in on EDIT. Raymond James began coverage on Editas Medicine in a report on Friday, September 21st. They issued an outperform rating and a $40.00 price target for the company. BidaskClub raised Editas Medicine from a hold rating to a buy rating in a report on Thursday, September 13th. Zacks Investment Research raised Editas Medicine from a hold rating to a buy rating and set a $32.00 price target for the company in a report on Tuesday, November 13th. Guggenheim began coverage on Editas Medicine in a report on Tuesday, October 9th. They issued a neutral rating for the company. Finally, ValuEngine cut Editas Medicine from a buy rating to a hold rating in a report on Friday, December 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. The company has an average rating of Hold and an average target price of $45.50.
Shares of EDIT stock opened at $26.20 on Thursday. The stock has a market capitalization of $1.26 billion, a PE ratio of -8.79 and a beta of 3.07. The company has a quick ratio of 13.13, a current ratio of 13.14 and a debt-to-equity ratio of 0.15. Editas Medicine has a 52-week low of $17.80 and a 52-week high of $45.02.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.40. The business had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $9.83 million. Editas Medicine had a negative return on equity of 53.15% and a negative net margin of 410.68%. The company’s revenue for the quarter was up 131.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.64) EPS. As a group, equities research analysts expect that Editas Medicine will post -2.18 earnings per share for the current fiscal year.
In related news, insider Katrine Bosley sold 12,000 shares of the stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $26.88, for a total value of $322,560.00. Following the completion of the transaction, the insider now directly owns 1,237,566 shares in the company, valued at $33,265,774.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Vickesh Myer sold 4,000 shares of the stock in a transaction that occurred on Thursday, October 18th. The stock was sold at an average price of $29.44, for a total value of $117,760.00. Following the completion of the transaction, the chief technology officer now owns 3,000 shares of the company’s stock, valued at $88,320. The disclosure for this sale can be found here. Insiders sold 69,284 shares of company stock valued at $1,886,175 over the last 90 days. Company insiders own 5.20% of the company’s stock.
A number of institutional investors have recently modified their holdings of EDIT. Vanguard Group Inc. lifted its stake in Editas Medicine by 3.9% during the third quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock worth $118,675,000 after purchasing an additional 141,609 shares in the last quarter. Vanguard Group Inc lifted its stake in Editas Medicine by 3.9% during the third quarter. Vanguard Group Inc now owns 3,729,579 shares of the company’s stock worth $118,675,000 after purchasing an additional 141,609 shares in the last quarter. BlackRock Inc. lifted its stake in Editas Medicine by 3.9% during the third quarter. BlackRock Inc. now owns 3,589,141 shares of the company’s stock worth $114,207,000 after purchasing an additional 134,075 shares in the last quarter. ARK Investment Management LLC lifted its stake in Editas Medicine by 28.1% during the third quarter. ARK Investment Management LLC now owns 2,793,854 shares of the company’s stock worth $88,900,000 after purchasing an additional 612,282 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Editas Medicine by 9.9% during the second quarter. Morgan Stanley now owns 2,069,280 shares of the company’s stock worth $74,142,000 after purchasing an additional 186,018 shares in the last quarter. Institutional investors own 68.76% of the company’s stock.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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