Editas Medicine (EDIT) Set to Announce Quarterly Earnings on Wednesday

Editas Medicine (NASDAQ:EDIT) will announce its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.65) per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.29. The business had revenue of $60.00 million for the quarter, compared to the consensus estimate of $4.84 million. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The company’s revenue for the quarter was up 817.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.88) earnings per share. On average, analysts expect Editas Medicine to post $-3 EPS for the current fiscal year and $-3 EPS for the next fiscal year.

Editas Medicine Trading Down 0.7 %

EDIT traded down $0.04 during trading on Monday, hitting $5.63. 553,002 shares of the stock were exchanged, compared to its average volume of 1,797,184. The firm has a 50 day simple moving average of $7.27 and a 200 day simple moving average of $8.27. Editas Medicine has a 1 year low of $5.11 and a 1 year high of $11.91.

Analyst Upgrades and Downgrades

EDIT has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Citigroup raised their price target on Editas Medicine from $11.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Insider Transactions at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 77,824 shares of Editas Medicine stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the completion of the transaction, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Baisong Mei sold 20,327 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the transaction, the chief executive officer now directly owns 327,470 shares in the company, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.

About Editas Medicine

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.