Editas Medicine (NASDAQ:EDIT) Receives New Coverage From Analysts at Cantor Fitzgerald

Financial News Live · Feb 1, 2023 05:51

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Editas Medicine (NASDAQ:EDIT – Get Rating) in a report released on Tuesday, The Fly reports. The brokerage set an "overweight" rating on the stock.

EDIT has been the topic of a number of other reports. Bank of America decreased their target price on Editas Medicine from $18.00 to $15.00 and set a "neutral" rating on the stock in a report on Friday, November 18th. Chardan Capital lowered their price target on Editas Medicine from $43.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, November 17th. Evercore ISI lowered their price target on Editas Medicine to $8.00 in a report on Monday, November 21st. Royal Bank of Canada lowered their price target on Editas Medicine from $32.00 to $14.00 and set a "sector perform" rating on the stock in a report on Friday, November 18th. Finally, Morgan Stanley lowered their price target on Editas Medicine from $8.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, January 24th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $16.86.

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Editas Medicine Trading Up 5.8 %

Shares of NASDAQ EDIT traded up $0.54 during mid-day trading on Tuesday, reaching $9.89. The company had a trading volume of 2,458,061 shares, compared to its average volume of 1,987,798. The stock has a market cap of $680.04 million, a PE ratio of -3.34 and a beta of 1.90. The company has a 50-day moving average price of $9.23 and a two-hundred day moving average price of $12.51. Editas Medicine has a 1-year low of $7.70 and a 1-year high of $21.59.

Editas Medicine (NASDAQ:EDIT – Get Rating) last issued its earnings results on Wednesday, November 2nd. The company reported ($0.81) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.87) by $0.06. The business had revenue of $0.04 million for the quarter, compared to analysts' expectations of $5.86 million. Editas Medicine had a negative return on equity of 41.33% and a negative net margin of 784.32%. On average, research analysts expect that Editas Medicine will post -3.08 EPS for the current year.

Hedge Funds Weigh In On Editas Medicine

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. acquired a new position in shares of Editas Medicine in the 2nd quarter worth approximately $27,000. Covestor Ltd boosted its holdings in shares of Editas Medicine by 9,693.3% in the 1st quarter. Covestor Ltd now owns 1,469 shares of the company's stock worth $28,000 after acquiring an additional 1,454 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Editas Medicine in the 2nd quarter worth approximately $32,000. Quantbot Technologies LP acquired a new position in shares of Editas Medicine in the 1st quarter worth approximately $44,000. Finally, Great West Life Assurance Co. Can acquired a new position in shares of Editas Medicine in the 3rd quarter worth approximately $48,000. 69.67% of the stock is currently owned by institutional investors.

About Editas Medicine

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Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.

Editas Medicine (NASDAQ:EDIT) Receives New Coverage From Analysts at Cantor Fitzgerald

Editas Medicine Trading Up 5.8 %

Hedge Funds Weigh In On Editas Medicine

About Editas Medicine

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