Other equities analysts have also recently issued research reports about the company. Bank of America cut their price objective on Editas Medicine from $18.00 to $15.00 and set a neutral rating for the company in a research report on Friday, November 18th. Credit Suisse Group cut shares of Editas Medicine from an outperform rating to a neutral rating and cut their target price for the company from $25.00 to $13.00 in a research note on Thursday, November 17th. Robert W. Baird dropped their price objective on shares of Editas Medicine from $25.00 to $18.00 and set an outperform rating on the stock in a report on Friday, November 18th. SVB Leerink reduced their target price on shares of Editas Medicine from $14.00 to $7.00 and set a market perform rating for the company in a research note on Thursday, November 17th. Finally, Morgan Stanley lowered their price target on Editas Medicine from $10.00 to $8.00 and set an underweight rating on the stock in a research note on Friday, November 18th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $15.83.
Editas Medicine Stock Performance
EDIT opened at $10.37 on Monday. The firm has a market cap of $713.04 million, a P/E ratio of -3.53 and a beta of 1.96. The business has a 50 day moving average price of $12.17 and a 200 day moving average price of $13.42. Editas Medicine has a twelve month low of $9.59 and a twelve month high of $34.01.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. Total Clarity Wealth Management Inc. bought a new position in Editas Medicine in the 2nd quarter valued at $27,000. Covestor Ltd raised its holdings in shares of Editas Medicine by 9,693.3% in the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after buying an additional 1,454 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of Editas Medicine in the second quarter valued at about $32,000. Quantbot Technologies LP acquired a new position in Editas Medicine during the 1st quarter worth about $44,000. Finally, Great West Life Assurance Co. Can bought a new stake in Editas Medicine during the 3rd quarter worth about $48,000. 68.77% of the stock is owned by institutional investors and hedge funds.
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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.
- Get a free copy of the StockNews.com research report on Editas Medicine (EDIT)
- Is the 60/40 Portfolio Mix Still in Vogue?
- Salesforce Cuts Labor, Shows Strong Earnings Despite Challenges
- Three CBD Stocks to Dominate a Budding Industry
- Institutional Support for Analog Devices Remains High
- Microsoft Shares: Is it Time to Back Up the Truck?
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.