Editas Medicine, Inc. (NASDAQ:EDIT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Editas Medicine, Inc. (NASDAQ:EDIT) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.00.

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Editas Medicine in a report on Wednesday, January 21st. Chardan Capital upgraded Editas Medicine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th.

Hedge Funds Weigh In On Editas Medicine

A number of hedge funds have recently modified their holdings of EDIT. Captrust Financial Advisors purchased a new stake in shares of Editas Medicine during the second quarter worth about $26,000. StoneX Group Inc. purchased a new stake in Editas Medicine in the 4th quarter worth approximately $33,000. Victory Capital Management Inc. purchased a new stake in Editas Medicine in the 3rd quarter worth approximately $36,000. R Squared Ltd purchased a new position in shares of Editas Medicine during the second quarter valued at approximately $45,000. Finally, Sei Investments Co. purchased a new position in shares of Editas Medicine during the third quarter valued at approximately $46,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Up 0.9%

Editas Medicine stock opened at $2.20 on Friday. The firm has a fifty day simple moving average of $2.02 and a two-hundred day simple moving average of $2.60. Editas Medicine has a twelve month low of $0.91 and a twelve month high of $4.54. The company has a market capitalization of $214.76 million, a PE ratio of -0.92 and a beta of 2.15.

Editas Medicine Company Profile

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.