EDIT

Morgan Stanley Upgrades Editas Medicine (EDIT)

Fintel reports that on May 9, 2024, Morgan Stanley upgraded their outlook for Editas Medicine (NasdaqGS:EDIT) from Underweight to Equal-Weight.

Analyst Price Forecast Suggests 216.90% Upside

As of May 8, 2024, the average one-year price target for Editas Medicine is 15.96. The forecasts range from a low of 7.07 to a high of $28.35. The average price target represents an increase of 216.90% from its latest reported closing price of 5.04.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Editas Medicine is 30MM, a decrease of 56.52%. The projected annual non-GAAP EPS is -3.11.

What is the Fund Sentiment?

There are 414 funds or institutions reporting positions in Editas Medicine. This is an increase of 9 owner(s) or 2.22% in the last quarter. Average portfolio weight of all funds dedicated to EDIT is 0.06%, an increase of 3.76%. Total shares owned by institutions decreased in the last three months by 3.68% to 63,694K shares. EDIT / Editas Medicine, Inc. Put/Call Ratios The put/call ratio of EDIT is 0.16, indicating a bullish outlook.

What are Other Shareholders Doing?

EDIT / Editas Medicine, Inc. Shares Held by Institutions

Deep Track Capital holds 5,473K shares representing 6.66% ownership of the company. In its prior filing, the firm reported owning 7,102K shares , representing a decrease of 29.76%. The firm decreased its portfolio allocation in EDIT by 13.40% over the last quarter.

XBI - SPDR(R) S&P(R) Biotech ETF holds 3,179K shares representing 3.87% ownership of the company. In its prior filing, the firm reported owning 3,978K shares , representing a decrease of 25.12%. The firm decreased its portfolio allocation in EDIT by 18.37% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 2,598K shares representing 3.16% ownership of the company. In its prior filing, the firm reported owning 2,493K shares , representing an increase of 4.06%. The firm increased its portfolio allocation in EDIT by 20.97% over the last quarter.

IWM - iShares Russell 2000 ETF holds 2,187K shares representing 2.66% ownership of the company. In its prior filing, the firm reported owning 1,909K shares , representing an increase of 12.69%. The firm increased its portfolio allocation in EDIT by 15.01% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 2,079K shares representing 2.53% ownership of the company. In its prior filing, the firm reported owning 2,097K shares , representing a decrease of 0.84%. The firm increased its portfolio allocation in EDIT by 13.14% 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.

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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.

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