Vetr upgraded shares of Editas Medicine Inc (NASDAQ:EDIT) from a buy rating to a strong-buy rating in a research note published on Monday. Vetr currently has $27.14 target price on the stock.

A number of other research firms also recently issued reports on EDIT. Cowen and Company reaffirmed a buy rating on shares of Editas Medicine in a research report on Wednesday, March 15th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Editas Medicine in a research report on Sunday, February 19th. Zacks Investment Research downgraded Editas Medicine from a hold rating to a sell rating in a research report on Friday, March 10th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $35.00 target price on shares of Editas Medicine in a research report on Wednesday, February 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Editas Medicine currently has a consensus rating of Buy and a consensus target price of $27.79.

Shares of Editas Medicine (NASDAQ:EDIT) opened at 18.99 on Monday. The stock’s market cap is $680.60 million. The company’s 50-day moving average price is $21.59 and its 200-day moving average price is $18.21. Editas Medicine has a 52-week low of $12.43 and a 52-week high of $39.50.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, March 7th. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by $0.48. The company earned $0.90 million during the quarter, compared to analyst estimates of $1.11 million. Editas Medicine had a negative net margin of 1,184.46% and a negative return on equity of 59.22%. During the same period in the prior year, the firm posted ($4.05) EPS. Analysts expect that Editas Medicine will post ($2.82) earnings per share for the current year.

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In other news, CFO Andrew A. F. Hack sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $19.20, for a total value of $57,600.00. Following the transaction, the chief financial officer now owns 3,000 shares of the company’s stock, valued at $57,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Alexandra Glucksmann sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $26.41, for a total value of $26,410.00. Following the completion of the transaction, the chief operating officer now directly owns 118,788 shares in the company, valued at approximately $3,137,191.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,000 shares of company stock worth $207,490.

Several institutional investors have recently bought and sold shares of the stock. EcoR1 Capital LLC purchased a new position in Editas Medicine during the fourth quarter valued at approximately $10,172,000. Foresite Capital Management III LLC bought a new stake in shares of Editas Medicine during the fourth quarter valued at about $4,462,000. Norges Bank bought a new stake in shares of Editas Medicine during the fourth quarter valued at about $1,479,000. Highland Capital Management LP bought a new stake in shares of Editas Medicine during the fourth quarter valued at about $1,460,000. Finally, State Treasurer State of Michigan bought a new stake in shares of Editas Medicine during the third quarter valued at about $709,000. 60.89% of the stock is currently owned by institutional investors.

About Editas Medicine

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.

5 Day Chart for NASDAQ:EDIT

To view Vetr’s full report, visit Vetr’s official website.

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