Editas Medicine Inc. (EDIT) Rating Increased to Hold at Zacks Investment Research

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Editas Medicine Inc. (NASDAQ:EDIT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Editas Medicine, Inc. is a genome editing company. It focuses on translating its genome editing technology into a novel class of human therapeutics which enable precise and corrective molecular modification to treat diseases. Editas Medicine, Inc. is based in Cambridge, Massachusetts. “
Shares of Editas Medicine (NASDAQ:EDIT) traded down 0.56% during midday trading on Tuesday, reaching $16.02. The company’s stock had a trading volume of 772,709 shares. Editas Medicine has a 12-month low of $12.57 and a 12-month high of $43.99. The firm’s market capitalization is $567.17 million. The stock has a 50-day moving average of $22.14 and a 200 day moving average of $29.14.

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Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.54). Equities research analysts predict that Editas Medicine will post ($2.59) EPS for the current fiscal year.
Several large investors recently made changes to their positions in EDIT. Royal Bank of Canada bought a new stake in shares of Editas Medicine during the first quarter worth $164,000. Schonfeld Strategic Advisors LLC acquired a new position in Editas Medicine during the first quarter worth about $336,000. UBS Group AG acquired a new position in Editas Medicine during the first quarter worth about $452,000. Foresite Capital Management III LLC acquired a new position in Editas Medicine during the first quarter worth about $501,000. Finally, TIAA CREF Investment Management LLC acquired a new position in Editas Medicine during the first quarter worth about $518,000.
Several other equities analysts have also issued reports on EDIT. Cowen and Company reaffirmed a “buy” rating on shares of Editas Medicine in a report on Monday, May 16th. Vetr raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.50 price objective on the stock in a report on Monday, May 9th. Finally, Jefferies Group reissued a “buy” rating on shares of Editas Medicine in a report on Monday, August 22nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Editas Medicine has an average rating of “Buy” and an average price target of $33.50.
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company 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)/CRISPR associated protein 9 (Cas9) technology.

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