Oppenheimer Initiates a Hold Rating on Editas Medicine Inc

By Jason Carr

Editas Medicine Inc (NASDAQ: EDIT) received a Hold rating from Oppenheimer analyst Leah R. Cann today. The company’s shares opened today at $17.30.

R. Cann commented:

“We are initiating coverage of Editas Medicine, a development-stage biotechnology platform company, with a Perform rating. Editas is developing gene editing therapies for the treatment of various human diseases. Its gene editing system, CRISPR, utilizes short sequences of RNA to guide a DNA cutting enzyme (DNA nuclease) to cut specific sequences of DNA. We anticipate Editas Medicine will continue to form collaborations for its CRISPR technology and advance its current collaborations into later stages of development.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 15.6% and a 80.0% success rate. Cann covers the Healthcare sector, focusing on stocks such as CytomX Therapeutics Inc, Crispr Therapeutics AG, and Syros Pharmaceuticals.

Editas Medicine Inc has an analyst consensus of Hold, with a price target consensus of $27.

The company has a one year high of $29.20 and a one year low of $12.43. Currently, Editas Medicine Inc has an average volume of 728.4K.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is neutral on the stock.

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Editas Medicine, Inc. engages in the development and commercialization of genome editting technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR); and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J. Keith Joung and David R.