Fintel reports that on August 3, 2023, Oppenheimer reiterated coverage of Editas Medicine (NASDAQ:EDIT) with a Perform recommendation.
Analyst Price Forecast Suggests 49.67% Upside
As of August 2, 2023, the average one-year price target for Editas Medicine is 13.68. The forecasts range from a low of 7.07 to a high of $31.50. The average price target represents an increase of 49.67% from its latest reported closing price of 9.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Editas Medicine is 20MM, an increase of 2.79%. The projected annual non-GAAP EPS is -3.33.
What is the Fund Sentiment?
There are 429 funds or institutions reporting positions in Editas Medicine. This is a decrease of 15 owner(s) or 3.38% in the last quarter. Average portfolio weight of all funds dedicated to EDIT is 0.05%, a decrease of 7.62%. Total shares owned by institutions decreased in the last three months by 3.84% to 56,479K shares. 
The put/call ratio of EDIT is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
XBI - SPDR(R) S&P(R) Biotech ETF holds 6,346K shares representing 7.98% ownership of the company. In it's prior filing, the firm reported owning 7,446K shares, representing a decrease of 17.34%. The firm decreased its portfolio allocation in EDIT by 12.98% over the last quarter.
Woodline Partners holds 2,647K shares representing 3.33% ownership of the company. In it's prior filing, the firm reported owning 2,079K shares, representing an increase of 21.46%. The firm increased its portfolio allocation in EDIT by 5.81% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,236K shares representing 2.81% ownership of the company. In it's prior filing, the firm reported owning 2,161K shares, representing an increase of 3.33%. The firm decreased its portfolio allocation in EDIT by 21.93% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 1,805K shares representing 2.27% ownership of the company. In it's prior filing, the firm reported owning 1,772K shares, representing an increase of 1.87%. The firm decreased its portfolio allocation in EDIT by 20.05% over the last quarter.
Citadel Advisors holds 1,623K shares representing 2.04% ownership of the company. In it's prior filing, the firm reported owning 819K shares, representing an increase of 49.51%. The firm increased its portfolio allocation in EDIT by 52.41% over the last quarter.
Editas Medicine Background Information
(This description is provided by the company.)
As a leading genome editing company, Editas Medicine is focused on translating the power and potential of the CRISPR/Cas9 and CRISPR/Cas12a (also known as Cpf1) genome editing systems into a robust pipeline of treatments for people living with serious diseases around the world. Editas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a broad class of diseases. For the latest information and scientific presentations, please visit www.editasmedicine.com.
Additional reading:
- Editas Medicine Announces Second Quarter 2023 Results and Business Updates On track to dose 20 total patients in the EDIT-301 RUBY trial for SCD and provide a clinical update by year-end Commenced parallel patient dosing in the EDIT-301 EDITHAL trial
- Employment Offer Letter, dated May 12, 2023, between the Registrant and Erick Lucera.
- Separation Agreement, dated May 16, 2023, between the Registrant and Michelle Robertson.
- Employment Offer Letter, dated July 3, 2023, between the Registrant and Linda C. Burkly.
- Editas Medicine Announces Offering of Common Stock
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
