Editas Medicine (EDIT) Downgraded by BidaskClub

BidaskClub cut shares of Editas Medicine (NASDAQ:EDIT) from a buy rating to a hold rating in a report issued on Thursday.

A number of other brokerages have also commented on EDIT. ValuEngine lowered shares of Editas Medicine from a hold rating to a sell rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Editas Medicine from a hold rating to a sell rating in a report on Tuesday, October 10th. Morgan Stanley reissued an equal weight rating and issued a $28.00 price objective (up previously from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. Cann reissued a hold rating on shares of Editas Medicine in a report on Tuesday, November 7th. Finally, Cowen reissued a buy rating on shares of Editas Medicine in a report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $26.73.

Editas Medicine (NASDAQ:EDIT) opened at $24.96 on Thursday. Editas Medicine has a 52 week low of $13.12 and a 52 week high of $31.81. The company has a quick ratio of 10.12, a current ratio of 10.12 and a debt-to-equity ratio of 0.19.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The company had revenue of $6.28 million during the quarter, compared to analyst estimates of $2.66 million. During the same quarter last year, the company posted ($0.59) EPS. The firm’s quarterly revenue was up 553.0% on a year-over-year basis. sell-side analysts forecast that Editas Medicine will post -2.92 EPS for the current year.

In other news, insider Katrine Bosley sold 8,333 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $23.64, for a total transaction of $196,992.12. Following the completion of the sale, the insider now owns 1,393,322 shares of the company’s stock, valued at approximately $32,938,132.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew A. F. Hack sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $25.35, for a total transaction of $126,750.00. Following the sale, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $126,750. The disclosure for this sale can be found here. Insiders sold a total of 34,999 shares of company stock valued at $900,774 in the last three months. Insiders own 19.40% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP bought a new stake in shares of Editas Medicine during the 3rd quarter worth approximately $667,000. Granahan Investment Management Inc. MA lifted its holdings in shares of Editas Medicine by 7.1% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 241,719 shares of the company’s stock worth $5,804,000 after acquiring an additional 15,999 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Editas Medicine during the 3rd quarter worth approximately $3,263,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Editas Medicine by 18.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 117,012 shares of the company’s stock worth $2,810,000 after acquiring an additional 18,366 shares during the period. Finally, Greenwoods Asset Management Ltd lifted its holdings in shares of Editas Medicine by 156.3% during the 3rd quarter. Greenwoods Asset Management Ltd now owns 182,000 shares of the company’s stock worth $4,370,000 after acquiring an additional 111,000 shares during the period. 70.11% of the stock is owned by institutional investors.

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About Editas Medicine

Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.

Analyst Recommendations for Editas Medicine (NASDAQ:EDIT)

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