JonesTrading analyst Soumit Roy has reiterated their neutral stance on EDIT stock, giving a Hold rating on March 6.
Soumit Roy has given his Hold rating due to a combination of factors surrounding Editas Medicine’s current progress and future plans. The company is actively advancing its preclinical, in vivo gene editing programs, focusing on hematopoietic stem cells, liver cells, and other undisclosed tissues. While these developments are promising, the nomination of development candidates for these programs is not expected until mid-2025, with further preclinical data anticipated by the end of 2025.
Despite having approximately $270 million in cash and equivalents, providing a financial runway into the second quarter of 2027, the company is still in the early stages of its development pipeline. The anticipated submission of an Investigational New Drug (IND) application is projected for mid-2026, with clinical trials expected to commence in the latter half of 2026. Given these timelines and the current stage of development, the Hold rating reflects a cautious stance as the company progresses towards these key milestones.
According to TipRanks, Roy is an analyst with an average return of -23.4% and a 17.37% success rate. Roy covers the Healthcare sector, focusing on stocks such as Chimerix, Day One Biopharmaceuticals, and Precision BioSciences.
In another report released on March 6, Barclays also maintained a Hold rating on the stock with a $3.00 price target.
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