Editas Medicine (NASDAQ:EDIT) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Editas Medicine (NASDAQ:EDIT) from an equal weight rating to an overweight rating in a research note published on Thursday, Marketbeat Ratings reports. The firm currently has $6.00 price target on the stock, up from their previous price target of $4.00.

Several other brokerages have also recently weighed in on EDIT. LADENBURG THALM/SH SH started coverage on shares of Editas Medicine in a research note on Tuesday, August 18th. They set a “buy” rating and a $6.00 price target on the stock. Guggenheim upgraded Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, September 23rd. Weiss Ratings raised Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.83.

Editas Medicine Stock Up 2.1%

NASDAQ EDIT opened at $2.90 on Thursday. The company has a 50-day moving average price of $2.86 and a 200-day moving average price of $2.89. Editas Medicine has a 52 week low of $1.66 and a 52 week high of $4.33. The firm has a market capitalization of $445.38 million, a P/E ratio of -3.87 and a beta of 2.00.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.12. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%. The company had revenue of $11.89 million for the quarter, compared to the consensus estimate of $2.85 million. As a group, equities research analysts anticipate that Editas Medicine will post -0.80 EPS for the current year.

Hedge Funds Weigh In On Editas Medicine

Several large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new stake in shares of Editas Medicine in the second quarter worth $1,190,000. Opaleye Management Inc. lifted its stake in shares of Editas Medicine by 100.4% during the 2nd quarter. Opaleye Management Inc. now owns 3,861,930 shares of the company’s stock valued at $12,513,000 after buying an additional 1,934,933 shares in the last quarter. Seven Fleet Capital Management LP bought a new position in Editas Medicine in the 2nd quarter worth $4,311,000. Renaissance Technologies LLC boosted its holdings in Editas Medicine by 30.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company’s stock worth $9,811,000 after buying an additional 932,382 shares during the period. Finally, BlackRock Inc. purchased a new stake in Editas Medicine in the 2nd quarter worth $34,312,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine News Summary

Here are the key news stories impacting Editas Medicine this week:

• Positive Sentiment: EDIT-401 cleared to enter human trials: Australian regulators approved initiation of the Phase 1/2 Strive trial in patients with heterozygous familial hypercholesterolemia who need additional LDL-cholesterol reduction. Editas expects to begin dosing this year and report initial safety and tolerability data in the first quarter of 2027. Editas Medicine Receives Approval to Initiate First-In-Human Clinical Trial of EDIT-401
• Positive Sentiment: Promising preclinical data support the program: In non-human primate studies, EDIT-401 reportedly reduced LDL cholesterol and other harmful blood fats by approximately 90%, while additional data are expected at the American Heart Association Scientific Sessions. These results could strengthen the potential value of a one-time gene-editing treatment, though they do not guarantee success in humans. Editas Medicine Gets Clearance for First Human Trial of Gene-Editing Drug
• Positive Sentiment: Wells Fargo upgraded Editas to Overweight from Equal Weight and raised its price target to $6 from $4. The new target implies substantial upside from the recent trading level and reflects increased optimism about EDIT-401’s potential and the company’s prospects into 2027. Wells Fargo Upgrades Editas Medicine to Overweight
• Neutral Sentiment: Short-interest data appear inconsistent: The report lists short interest at zero shares and a zero-day days-to-cover ratio despite describing a large increase. This likely reflects a data or reporting anomaly and provides little reliable information about current trading sentiment.
• Negative Sentiment: Clinical and financial risks remain significant: EDIT-401 is entering its first human study, so safety, durability and cholesterol-lowering performance are unproven in patients. Editas also remains loss-making, making future financing needs and clinical setbacks important risks for shareholders.

About Editas Medicine

Editas Medicine, Inc is a biotechnology company focused on developing genomic medicines that use CRISPR-based gene-editing technologies to treat diseases caused by genetic abnormalities. The company’s research programs are designed to modify or correct disease-associated genes in patients’ cells, with the goal of developing potentially durable treatments.

Its lead investigational program is reni-cel, formerly known as EDIT-301, an ex vivo CRISPR gene-editing therapy being studied for sickle cell disease and transfusion-dependent beta thalassemia.