According to Bloomberg Ratings, the ten independent research firms that cover the company have collectively provided Editas Medicine, Inc. (NASDAQ: EDIT) with an average rating of “Hold.” There have been three experts who have urged selling the stock, four analysts who have suggested keeping it, and one who proposed buying it. In the previous year, market watchers who had issued a rating for the company had an average price goal of $27.89 per share for the following year. Recently, a significant amount of analyst attention has been focused on EDIT as a research topic. In a research note published on Thursday, May 5, Oppenheimer stated that their price goal for Editas Medicine shares had decreased from $55.00 to $28.00. This news came in response to the fact that the price objective had been reduced. Barclays increased their price target for Editas Medicine from $16.00 to $17.00 in a research report published on Thursday, August 4. The firm also assigned an “equal weight” rating to the company’s stock.
Editas Medicine was downgraded by The Goldman Sachs Group from a “hold” recommendation to a “sell” rating in a research report published on Tuesday, May 24. The final and most significant adjustment was made here. On Tuesday, the price of a share of EDIT was $14.88 when trading began. The stock has a beta value of 2.03, and its price-to-earnings ratio is -5.51, giving it a market value of $1.02 billion. The moving average price of the firm over the previous fifty days is $15.60, while the moving average price of the company over the previous two hundred days is $15.08. Over the last twelve months, the all-time low for Editas Medicine was $9.59, while the all-time high was $73.03. On August 3, the most recent quarterly report for Editas Medicine, traded on the NASDAQ under the EDIT, was made accessible to the general public. The company reported a loss of $0.78 per share in earnings for the quarter, which was $0.06 better than the consensus expectation of $0.84 per share. The earnings per share for the period were $0.78. The results of the company’s sales for the quarter came in at $6.36 million, which was a considerable increase over the $4.29 million that analysts had projected for the company’s sales. The return on equity and the profit margin for Editas Medicine was in the red. The return on equity was 34.83%, while the profit margin was -580.16%.
The income of Editas Medicine increased significantly by 1578.6% compared to the same quarter in the previous year. The previous year, during the same period, the company recorded a net income per share of $0.81. This year’s net income per share is expected to be higher. Sell-side analysts forecast that Editas Medicine will record a loss of -3.35 cents per share in earnings for the current financial year. Mark S. Shearman, Executive Vice President and Chief Operating Officer of Editas Medicine, sold 5,145 shares of the company’s stock on June 15. When all of the shares were sold, the total revenue was $51,758.70, which totaled an average price of $10.06 per share. As a direct result of the transaction, the executive vice president now owns 68,349 shares. Based on the current market price, these shares have an estimated worth of around $687,590.94. By releasing a legal document, which may be seen on the SEC website, the Securities and Exchange Commission (SEC) disclosed the transaction to the public. Insiders of the company have sold 7,795 shares over the most recent three and a half months, bringing in a total of $82,340. The equivalent of 0.94% of the total number of shares in the company is held by company insiders. Recent months have seen several large investors adjust how they hold their shares in the company in question. During the second quarter, Legal & General Group Plc raised its ownership in Editas Medicine by 21.4%.
Legal & General Group Plc now holds 158,103 shares of the company’s stock, valued at $1,870,000, after purchasing an additional 27,835 shares of the company’s stock during the quarter. These 158,103 shares were purchased at a total cost of $1,870,000. During the second quarter, ExodusPoint Capital Management LP invested about 1,034,000 dollars in acquiring a new investment in Editas Medicine. Goldman Sachs Group Inc. increased the amount of Editas Medicine stock owned by 23.9% during the second quarter. Goldman Sachs Group Inc. now directly owns a total of 787,720 shares of the company’s stock, which has an estimated market value of $9,319,000 after purchasing an additional 152,171 shares during the most recent quarter. The value of these shares is believed to be $9,319,000. Nomura Holdings Inc. has increased its holding in Editas Medicine by 89.5% since the beginning of the second quarter by purchasing new company shares. After the most recent quarterly acquisition of 17,444 additional shares, Nomura Holdings Inc. now owns 36,944 shares of the company’s stock, which has a combined value of $465,000. This brings the total value of Nomura Holdings Inc.’s stock holdings to $465,000. Last but not least, during the second quarter, Woodline Partners LP increased the amount of Editas Medicine shares it owned by 4.346.2%.
This obviously should not be considered the least important development. Following the acquisition of an additional 994,020 shares during the most recent quarter, Woodline Partners LP now holds 1,016,891 shares of the company’s stock, which has a value of $12,030,000. This brings the total number of shares owned by the partnership to 1,016,891. Institutional investors and investors connected to hedge funds own 75.48 percent of the company’s stock. Editas Medicine, Inc., a company now in the clinical stage of developing technology for editing genomes, is committed to developing novel genomic medicines to treat a wide range of diseases with a high-level severity. It developed its own platform for editing genes based on CRISPR technology. In Phase 1/2 clinical trials, the medication EDIT-101 is being investigated as a potential treatment for Leber congenital amaurosis 10, a disorder that results in infants being born blind. A genetic mutation causes this illness.