Editas Medicine downgraded to Neutral from Buy at Chardan

Chardan analyst Geulah Livshits downgraded Editas Medicine (EDIT) to Neutral from Buy and withdrew the firm’s price target after the company announced a strategic transition to focus entirely on development of in vivo therapies after failing to find a partner for its clinical-stage ex vivo-edited sickle cell and beta thalassemia therapy, reni-cel. With reni-cel deal upside now ruled out and limited details on the in vivo pipeline, the firm moves to the sidelines pending “further visibility on potential near-term value inflection points.”