The price of Editas Medicine Inc. (NASDAQ:EDIT) shares last traded on Wall Street fell -1.48% to $8.65.
Based on available information, 19 analysts follow Editas Medicine Inc. (NASDAQ:EDIT). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $7.00, we find $12.00. Given the previous closing price of $8.78, this indicates a potential upside of 36.67 percent. EDIT stock price is now -3.86% away from the 50-day moving average and -7.50% away from the 200-day moving average. The market capitalization of the company currently stands at $691.39M.
Among analysts, 10 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $13.41 as their price target over the next twelve months.
With the price target maintained at $17, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Editas Medicine Inc. (NASDAQ: EDIT).
In other news, Mei Baisong, SVP, CHIEF MEDICAL OFFICER sold 4,317 shares of the company’s stock on Jul 19. The stock was sold for $37,990 at an average price of $8.80. Upon completion of the transaction, the SVP, CHIEF MEDICAL OFFICER now directly owns 72,055 shares in the company, valued at $0.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 05, CEO O’Neill Gilmore Neil sold 6,486 shares of the business’s stock. A total of $61,638 was realized by selling the stock at an average price of $9.50. This leaves the insider owning 130,169 shares of the company worth $1.13 million. Insiders disposed of 22,280 shares of company stock worth roughly $0.19 million over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in EDIT stock. A new stake in Editas Medicine Inc. shares was purchased by CUBIST SYSTEMATIC STRATEGIES, LLC during the first quarter worth $3,625,000. POINT72 ASSET MANAGEMENT, L.P. invested $1,970,000 in shares of EDIT during the first quarter. In the first quarter, VOLORIDGE INVESTMENT MANAGEMENT, LLC acquired a new stake in Editas Medicine Inc. valued at approximately $1,854,000. PROFUND ADVISORS LLC acquired a new stake in EDIT for approximately $1,088,000. SHELL ASSET MANAGEMENT CO purchased a new stake in EDIT valued at around $711,000 in the second quarter. In total, there are 325 active investors with 73.30% ownership of the company’s stock.
A candlestick chart of Editas Medicine Inc. (NASDAQ: EDIT) showed a price of $8.70 on Tuesday morning. During the past 12 months, Editas Medicine Inc. has had a low of $6.33 and a high of $19.97. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 5.70, and a quick ratio of 5.70. The fifty day moving average price for EDIT is $8.98 and a two-hundred day moving average price translates $9.33 for the stock.
The latest earnings results from Editas Medicine Inc. (NASDAQ: EDIT) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.71, beating analysts’ expectations of -$0.78 by 0.07. This compares to -$0.74 EPS in the same period last year. The company reported revenue of $9.85 million for the quarter, compared to $6.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 45.49 percent. For the current quarter, analysts expect EDIT to generate $4.17M in revenue.
Editas Medicine Inc.(EDIT) Company Profile
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 BRILLIANCE trial for Leber Congenital Amaurosis 10; autosomal dominant retinitis pigmentosa; and EDIT-301, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia. In addition, the company is developing gene-edited Natural Killer cell medicines to treat solid tumor cancers; alpha-beta T cells for multiple cancers; and gamma delta T cell therapies to treat cancer. It has a research collaboration with Juno Therapeutics, Inc. to develop engineered T cells for cancer; strategic alliance and option agreement with Allergan Pharmaceuticals International Limited to discover, develop, and commercialize new gene editing medicines for a range of ocular disorders. The company was formerly known as Gengine, Inc. and changed its name to Editas Medicine, Inc. in November 2013. Editas Medicine, Inc. was incorporated in 2013 and is based in Cambridge, Massachusetts.
