Editas Medicine (NASDAQ:EDIT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

EDIT has been the subject of a number of other reports. ValuEngine lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. BidaskClub raised Editas Medicine from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 target price (up from $27.00) on shares of Editas Medicine in a research report on Friday, October 6th. Finally, Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Editas Medicine has a consensus rating of “Hold” and a consensus target price of $26.73.

Shares of Editas Medicine (NASDAQ:EDIT) traded up $1.15 during mid-day trading on Tuesday, hitting $31.17. The company had a trading volume of 1,530,690 shares, compared to its average volume of 2,274,600. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12. The company has a market cap of $1,370.00 and a price-to-earnings ratio of -9.62.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). The business had revenue of $6.28 million for the quarter, compared to the consensus estimate of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. Editas Medicine’s revenue was up 553.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.59) earnings per share. equities research analysts anticipate that Editas Medicine will post -2.92 earnings per share for the current fiscal year.

In other news, CFO Andrew A. F. Hack sold 5,000 shares of Editas Medicine stock in a transaction on Friday, November 17th. The stock was sold at an average price of $24.81, for a total value of $124,050.00. Following the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $124,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Katrine Bosley sold 8,333 shares of Editas Medicine stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.64, for a total value of $196,992.12. Following the completion of the transaction, the insider now owns 1,393,322 shares in the company, valued at $32,938,132.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,310 shares of company stock valued at $1,689,449. 19.40% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. First Midwest Bank Trust Division purchased a new position in shares of Editas Medicine in the 3rd quarter valued at $1,349,000. Greenwoods Asset Management Ltd purchased a new position in shares of Editas Medicine in the 2nd quarter valued at $1,191,000. American Century Companies Inc. purchased a new position in shares of Editas Medicine in the 3rd quarter valued at $7,497,000. Bank of New York Mellon Corp increased its holdings in shares of Editas Medicine by 123.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 142,122 shares of the company’s stock valued at $2,385,000 after acquiring an additional 78,632 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Editas Medicine in the 2nd quarter valued at $285,000. Institutional investors and hedge funds own 65.70% of the company’s stock.

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Editas Medicine Company Profile

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.

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