Editas Medicine (NASDAQ:EDIT) PT Lowered to $35.00 at Truist Financial

Editas Medicine (NASDAQ:EDITGet Rating) had its price target trimmed by Truist Financial from $80.00 to $35.00 in a research note released on Friday, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also recently weighed in on EDIT. SVB Leerink lowered their price objective on shares of Editas Medicine from $14.00 to $7.00 and set a market perform rating on the stock in a research report on Thursday. Chardan Capital lowered their price target on shares of Editas Medicine from $43.00 to $35.00 and set a buy rating on the stock in a report on Thursday. Robert W. Baird lowered their price target on shares of Editas Medicine from $25.00 to $18.00 and set an outperform rating on the stock in a report on Friday. StockNews.com started coverage on shares of Editas Medicine in a report on Wednesday, October 12th. They set a sell rating on the stock. Finally, Oppenheimer cut shares of Editas Medicine from an outperform rating to a market perform rating and lowered their price target for the company from $28.00 to $12.00 in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $16.42.

Editas Medicine Stock Performance

NASDAQ EDIT opened at $10.95 on Friday. Editas Medicine has a twelve month low of $9.59 and a twelve month high of $36.53. The stock has a market cap of $752.95 million, a price-to-earnings ratio of -3.72 and a beta of 1.96. The firm’s 50 day moving average price is $12.57 and its two-hundred day moving average price is $13.53.

Editas Medicine (NASDAQ:EDITGet Rating) last posted its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.06. Editas Medicine had a negative net margin of 784.32% and a negative return on equity of 41.33%. The firm had revenue of $0.04 million for the quarter, compared to analysts’ expectations of $5.86 million. On average, research analysts forecast that Editas Medicine will post -3.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of large investors have recently bought and sold shares of EDIT. State Street Corp boosted its holdings in Editas Medicine by 43.8% in the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock worth $93,219,000 after purchasing an additional 2,399,852 shares in the last quarter. Woodline Partners LP lifted its position in Editas Medicine by 4,346.2% during the 2nd quarter. Woodline Partners LP now owns 1,016,891 shares of the company’s stock worth $12,030,000 after acquiring an additional 994,020 shares during the last quarter. BlackRock Inc. lifted its position in Editas Medicine by 15.5% during the 1st quarter. BlackRock Inc. now owns 6,275,270 shares of the company’s stock worth $119,355,000 after acquiring an additional 841,894 shares during the last quarter. Renaissance Technologies LLC lifted its position in Editas Medicine by 296.1% during the 1st quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock worth $17,183,000 after acquiring an additional 675,300 shares during the last quarter. Finally, PFM Health Sciences LP lifted its position in Editas Medicine by 103.1% during the 3rd quarter. PFM Health Sciences LP now owns 1,279,054 shares of the company’s stock worth $15,656,000 after acquiring an additional 649,370 shares during the last quarter. 68.77% of the stock is currently owned by institutional investors.

About Editas Medicine

(Get Rating)

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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.

Further Reading

The Fly logo

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.