BidaskClub Downgrades Editas Medicine (NASDAQ:EDIT) to Sell

BidaskClub lowered shares of Editas Medicine (NASDAQ:EDIT) from a hold rating to a sell rating in a report published on Friday, September 27th, BidAskClub reports.

EDIT has been the topic of a number of other research reports. Morgan Stanley set a $29.00 price objective on Editas Medicine and gave the stock a hold rating in a research note on Friday, August 9th. ValuEngine upgraded Editas Medicine from a hold rating to a buy rating in a research note on Thursday, August 1st. Finally, Chardan Capital reiterated a buy rating and issued a $55.00 price target on shares of Editas Medicine in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $35.50.

Shares of NASDAQ:EDIT traded up $0.70 during midday trading on Friday, reaching $20.19. The company’s stock had a trading volume of 525,120 shares, compared to its average volume of 606,911. The business has a 50 day moving average price of $23.73 and a 200 day moving average price of $24.11. Editas Medicine has a 1 year low of $17.80 and a 1 year high of $32.46. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.07. The firm has a market cap of $985.35 million, a price-to-earnings ratio of -8.67 and a beta of 2.49.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.10). The firm had revenue of $2.33 million for the quarter, compared to analysts’ expectations of $6.88 million. Editas Medicine had a negative net margin of 412.70% and a negative return on equity of 47.46%. Editas Medicine’s revenue was down 68.4% on a year-over-year basis. During the same period last year, the firm posted ($0.82) EPS. Sell-side analysts anticipate that Editas Medicine will post -2.58 earnings per share for the current fiscal year.

In related news, CEO Cynthia Collins sold 5,193 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $25.83, for a total value of $134,135.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of EDIT. Kavar Capital Partners LLC acquired a new stake in Editas Medicine during the 2nd quarter worth $25,000. Capital Investment Advisory Services LLC bought a new position in shares of Editas Medicine during the second quarter worth $25,000. Steward Partners Investment Advisory LLC bought a new position in shares of Editas Medicine during the second quarter worth $27,000. BSW Wealth Partners bought a new position in shares of Editas Medicine during the second quarter worth $28,000. Finally, Quantamental Technologies LLC bought a new position in shares of Editas Medicine during the second quarter worth $45,000. 79.16% of the stock is owned by hedge funds and other institutional investors.

About Editas Medicine

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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