Editas Medicine downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded Editas Medicine (EDIT) to Equal Weight from Overweight with a price target of $4, down from $7. Updated renizgamglogene autogedtemcel data at ASH were consistent with prior readouts, with hemolytic markers all normalized, the analyst tells investors in a research note. At the same time, reni-cel’s positioning may be impacted by early data from Beam Therapeutics (BEAM) at ASH, which showed better Protective Fetal Hemoglobin induction and engraftment time, Wells says.