Editas Medicine price target lowered to $4 from $5 at RBC Capital

RBC Capital analyst Luca Issi lowered the firm’s price target on Editas Medicine (EDIT) to $4 from $5 and keeps a Sector Perform rating on the shares. The firm is citing the company having announced the termination of reni-cel, the departure of the CMO and the resignation of two Board members, along with a workforce cut of about 65% of roles, the analyst tells investors in a research note. RBC adds however that while the runway for Editas is now extended by about 5 quarters, the firm remains neutral on the stock, with no upcoming catalyst for the company for the foreseeable future.