Editas Medicine, Inc. (NASDAQ:EDIT) Given Average Recommendation of “Hold” by Analysts

Editas Medicine, Inc. (NASDAQ:EDIT) has received an average rating of “Hold” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $7.00.

EDIT has been the topic of several recent analyst reports. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Royal Bank of Canada dropped their target price on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, December 13th. Bank of America cut shares of Editas Medicine from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $13.00 to $1.00 in a research report on Monday, November 25th. Stifel Nicolaus cut shares of Editas Medicine from a “buy” rating to a “hold” rating and dropped their target price for the stock from $11.00 to $3.00 in a research report on Friday, December 13th. Finally, Evercore ISI dropped their target price on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio grew its stake in Editas Medicine by 236.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 111,716 shares of the company’s stock valued at $142,000 after buying an additional 78,513 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Editas Medicine by 30.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company’s stock valued at $1,486,000 after buying an additional 272,467 shares in the last quarter. Two Sigma Advisers LP grew its stake in Editas Medicine by 46.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company’s stock valued at $2,104,000 after buying an additional 528,000 shares in the last quarter. Two Sigma Investments LP grew its stake in Editas Medicine by 21.4% in the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company’s stock valued at $2,094,000 after buying an additional 290,483 shares in the last quarter. Finally, Tang Capital Management LLC purchased a new position in Editas Medicine in the 4th quarter valued at approximately $508,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Editas Medicine Stock Performance

Shares of NASDAQ EDIT opened at $3.20 on Friday. Editas Medicine has a fifty-two week low of $1.12 and a fifty-two week high of $11.58. The stock has a market cap of $264.15 million, a price-to-earnings ratio of -1.25 and a beta of 1.94. The firm’s 50-day simple moving average is $1.36 and its 200 day simple moving average is $2.60.

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.