Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 16,740,000 shares, a decrease of 11.7% from the September 15th total of 18,960,000 shares. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is currently 9.3 days.
Editas Medicine Stock Performance
Editas Medicine stock opened at $3.45 on Thursday. The stock has a market capitalization of $283.72 million, a P/E ratio of -1.64 and a beta of 1.99. The company’s fifty day moving average price is $3.64 and its 200 day moving average price is $4.84. Editas Medicine has a 1 year low of $2.91 and a 1 year high of $11.69.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.12). Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The company had revenue of $0.51 million during the quarter, compared to analyst estimates of $4.78 million. During the same quarter last year, the business earned ($0.56) EPS. The firm’s revenue for the quarter was down 82.2% compared to the same quarter last year. Sell-side analysts predict that Editas Medicine will post -2.98 EPS for the current year.
Insider Activity at Editas Medicine
Institutional Investors Weigh In On Editas Medicine
Large investors have recently bought and sold shares of the company. Koss Olinger Consulting LLC acquired a new stake in shares of Editas Medicine in the second quarter worth approximately $47,000. Hoylecohen LLC acquired a new stake in Editas Medicine during the 2nd quarter worth $55,000. Spectrum Planning & Advisory Services Inc. purchased a new stake in shares of Editas Medicine during the second quarter worth $57,000. Aries Wealth Management acquired a new stake in shares of Editas Medicine in the second quarter valued at about $65,000. Finally, Headlands Technologies LLC lifted its stake in shares of Editas Medicine by 481.7% in the first quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after buying an additional 7,861 shares in the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
EDIT has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $8.00 price target on shares of Editas Medicine in a research report on Thursday, September 19th. Truist Financial dropped their target price on Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Barclays decreased their price target on Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Finally, Bank of America raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $13.00 to $15.00 in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $10.22.
View Our Latest Stock Report on Editas Medicine
Editas Medicine Company Profile
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.
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