Brokerages downgrade gene editing company Editas to 'hold', shares slump 23%

Investing.com12-14

Investing.com -- Truist and Stifel downgraded Editas Medicine Inc (NASDAQ:EDIT) to "hold" from "buy". While Truist removed its price target citing a lack of near-term catalysts, the latter hacked it ...

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While Truist removed its price target citing a lack of near-term catalysts, the latter hacked it ...</p>\n\n<a href=\"https://finance.yahoo.com/news/brokerages-downgrade-gene-editing-company-191528824.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"EDIT","symbol_name":"Editas Medicine, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/brokerages-downgrade-gene-editing-company-191528824.html","article_id":"2491130294","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491130294","pubTimestamp":1734117328,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com -- Truist and Stifel downgraded Editas Medicine Inc  to \"hold\" from \"buy\". While Truist removed its price target citing a lack of near-term catalysts, the latter hacked it to $3 from $11.Shares of Editas, the gene-editing company were down 23% at $1.45 on Friday.Editas announced a strategic shift, ending its development of reni-cel and cutting its workforce by 65%. The company plans to focus entirely on in vivo therapeutic development, with clinical proof of concept at least two years away.While Editas presented preclinical data supporting its in vivo approach for hematopoietic stem cells, Truist expressed concerns about competitive pressures and uncertainties surrounding the program.Truist said it would stay on the sidelines due to limited value-creating opportunities within the next 12-18 months.“Despite an evolving clinical profile that looks favorable, EDIT's decision to end development after extensive search did not yield a commercial partner is disappointing, and fo","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["rate"],"viewcount":null,"language":"en","relate_stocks":{"EDIT":"Editas Medicine, Inc.","TFC":"Truist Financial Corp"},"translate_title":"券商将基因编辑公司Editas评级下调至“持有”，股价暴跌23%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"EDIT":0.9,"TFC":0.9},"content_text":"Investing.com -- Truist and Stifel downgraded Editas Medicine Inc (NASDAQ:EDIT) to \"hold\" from \"buy\". While Truist removed its price target citing a lack of near-term catalysts, the latter hacked it to $3 from $11.  \nShares of Editas, the gene-editing company were down 23% at $1.45 on Friday. \nEditas announced a strategic shift, ending its development of reni-cel and cutting its workforce by 65%. The company plans to focus entirely on in vivo therapeutic development, with clinical proof of concept at least two years away. \nWhile Editas presented preclinical data supporting its in vivo approach for hematopoietic stem cells, Truist expressed concerns about competitive pressures and uncertainties surrounding the program.\nTruist said it would stay on the sidelines due to limited value-creating opportunities within the next 12-18 months.\n“Despite an evolving clinical profile that looks favorable, EDIT's decision to end development after extensive search did not yield a commercial partner is disappointing, and for us, pushes us to revisit our investment thesis in the stock,” Stifel analyst wrote.\nRelated Articles\nBrokerages downgrade gene editing company Editas to 'hold', shares slump 23%\nBroadcom, Tesla lead Friday's market cap stock movers\nRussia's Novatek working with lobbyists to thaw US relations, sources say","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491130294"}