Editas Medicine price target lowered to $10 from $18 at Baird

Baird lowered the firm’s price target on Editas Medicine (EDIT) to $10 from $18 and keeps an Outperform rating on the shares. The firm notes Editas provided initial data from its in vivo approach aimed at utilizing targeted lipid nanoparticle delivery to edit hematopoietic stem cells with CRISPR-Cas12a enzyme. Concurrently, management also announced that the company is seeking global partnerships for reni-cel, as it looks to focus resources on the in vivo programs. While Baird is encouraged by the initial in vivo data, it expects investors will struggle to assign meaningful value to such an early-stage platform.