Editas Medicine (NASDAQ:EDIT) Rating Lowered to Hold at BidaskClub

Editas Medicine (NASDAQ:EDIT) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Saturday, May 4th, BidAskClub reports.

Other research analysts have also recently issued research reports about the company. Zacks Investment Research raised Editas Medicine from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, March 5th. BTIG Research initiated coverage on Editas Medicine in a research report on Thursday, February 7th. They issued a “buy” rating and a $30.00 price objective on the stock. Cowen restated a “buy” rating on shares of Editas Medicine in a research note on Tuesday, January 22nd. Chardan Capital restated a “buy” rating and issued a $55.00 target price on shares of Editas Medicine in a research note on Tuesday, January 22nd. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Editas Medicine in a research note on Thursday, January 10th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $37.80.

Shares of NASDAQ:EDIT traded up $0.08 during mid-day trading on Friday, hitting $21.23. 454,445 shares of the company traded hands, compared to its average volume of 915,169. The company has a quick ratio of 8.46, a current ratio of 8.46 and a debt-to-equity ratio of 0.07. Editas Medicine has a 12-month low of $17.80 and a 12-month high of $41.43. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -9.11 and a beta of 2.48.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.60) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.03). Editas Medicine had a negative return on equity of 47.64% and a negative net margin of 359.93%. The business had revenue of $2.07 million during the quarter, compared to analysts’ expectations of $7.62 million. During the same period in the prior year, the firm posted ($0.67) EPS. The firm’s revenue for the quarter was down 47.3% on a year-over-year basis. As a group, equities research analysts expect that Editas Medicine will post -2.52 earnings per share for the current year.

In related news, Director Jessica Hopfield acquired 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average cost of $23.94 per share, for a total transaction of $244,188.00. Following the purchase, the director now owns 16,900 shares in the company, valued at approximately $404,586. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vickesh Myer sold 3,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $24.50, for a total value of $73,500.00. Following the sale, the insider now owns 3,000 shares in the company, valued at $73,500. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.

Several large investors have recently added to or reduced their stakes in EDIT. BlueMountain Capital Management LLC increased its stake in Editas Medicine by 132.7% in the 1st quarter. BlueMountain Capital Management LLC now owns 22,881 shares of the company’s stock worth $559,000 after acquiring an additional 13,050 shares during the last quarter. Jane Street Group LLC increased its stake in Editas Medicine by 35.6% in the 1st quarter. Jane Street Group LLC now owns 54,990 shares of the company’s stock worth $1,344,000 after acquiring an additional 14,440 shares during the last quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd increased its stake in Editas Medicine by 93.3% in the 1st quarter. SHANDA ASSET MANAGEMENT HOLDINGS Ltd now owns 103,579 shares of the company’s stock worth $2,533,000 after acquiring an additional 50,000 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in Editas Medicine by 38.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 13,981 shares of the company’s stock worth $336,000 after acquiring an additional 3,847 shares during the last quarter. Finally, Man Group plc bought a new position in Editas Medicine in the 1st quarter worth about $1,719,000. Institutional investors own 75.45% of the company’s stock.

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.

Recommended Story: Is a Roth IRA right for you?

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.