Shares of Editas Medicine (EDIT -2.60%) sank 11.4% as of the market close on Wednesday. The big decline came after AbbVie (ABBV 0.22%) announced a partnership with privately held Caribou Biosciences to develop chimeric antigen receptor T cell (CAR-T) therapies. So what Why did AbbVie's deal with Caribou cause Editas stock to fall?
Why is Editas Medicine stock down 17% today?
Sep 29, 2021 · Unlike many other companies using CRISPR to try to cure a genetic disease, Editas chose an inherited form of rapid vision loss as its target. …
What is Editas Medicine’s edit-301?
Jan 13, 2022 · So why are Editas Medicine's shares falling so much? Biotech stocks , in general, have experienced declines this week. The overall sell-off appears to …
Does Jason Hawthorne own Editas Medicine?
Feb 10, 2021 · What happened Shares of Editas Medicine ( EDIT -2.60% ) sank 11.4% as of the market close on Wednesday. The big decline came after AbbVie ( ABBV 0.22% ) announced a partnership with privately held...
Who owns AbbVie and Editas Medicine?
Sep 29, 2021 · Currently, shares of EDIT stock are down 20% on heavy volume as investors continue to re-assess their growth holdings today. Source: Shutterstock Despite a rather nice bounce back for equities...
Why did Editas stock go down today?
The stock price of Editas plunged 19% in yesterday's trading session after the company shared interim data for its EDIT 101 - a CRISPR-based treatment for Leber congenital amaurosis.Oct 1, 2021
Is Editas stock a good buy?
Editas Medicine has received a consensus rating of Hold. The company's average rating score is 2.33, and is based on 4 buy ratings, 4 hold ratings, and 1 sell rating.
Will Editas stock go up?
Stock Price Forecast The 14 analysts offering 12-month price forecasts for Editas Medicine Inc have a median target of 30.00, with a high estimate of 80.00 and a low estimate of 10.00. The median estimate represents a +105.62% increase from the last price of 14.59.
Is Beam Therapeutics a good investment?
Beam Therapeutics stock has been rising in anticipation of its first clinical trial. Cathie Wood and ARK Invest have been buying this stock with both hands because it uses a new approach to gene editing that could be relatively safe. Despite its nosebleed-inducing valuation, this could be a great stock to buy now.Nov 9, 2021
Is Editas a good company?
Is Editas Medicine a good company to work for? Editas Medicine has an overall rating of 3.1 out of 5, based on over 30 reviews left anonymously by employees. 43% of employees would recommend working at Editas Medicine to a friend and 44% have a positive outlook for the business.Apr 19, 2022
Where is Editas Medicine located?
Cambridge, MAEditas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, and precise genomic medicines for a broad class of diseases. Our corporate headquarters is located in Cambridge, MA, and we have a significant and growing site in Boulder, CO.
Is Edit overvalued?
Price to Book Ratio PB vs Industry: EDIT is overvalued based on its PB Ratio (1.8x) compared to the US Biotechs industry average (1.6x).
Is RPTX a buy?
Out of 4 analysts, 3 (75%) are recommending RPTX as a Strong Buy, 1 (25%) are recommending RPTX as a Buy, 0 (0%) are recommending RPTX as a Hold, 0 (0%) are recommending RPTX as a Sell, and 0 (0%) are recommending RPTX as a Strong Sell. What is RPTX's earnings growth forecast for 2022-2024?
Why did edit stock go up?
That's because the convergence of DNA editing, artificial intelligence, and gene therapies, importantly CRISPR gene editing, is going to cure disease." Editas is generating much higher gains today than the other leading CRISPR-focused biotech, CRISPR Therapeutics ( CRSP -3.56% ), though.Dec 21, 2020
Is beam a buy or sell?
Out of 5 analysts, 2 (40%) are recommending BEAM as a Strong Buy, 2 (40%) are recommending BEAM as a Buy, 1 (20%) are recommending BEAM as a Hold, 0 (0%) are recommending BEAM as a Sell, and 0 (0%) are recommending BEAM as a Strong Sell. What is BEAM's earnings growth forecast for 2022-2024?
Is Crispr a good stock to buy?
Yes, CRISPR Therapeutics boasts explosive upside potential, but it also comes with a decent amount of risk, more so than many investors can handle.Mar 16, 2022
What does beam therapeutics do?
Beam is pioneering the use of base editing — a potential new class of precision genetic medicines — with a vision of providing life-long cures to patients suffering from serious diseases.
NASDAQ: EDIT
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What happened
Shares of Editas Medicine ( EDIT -4.00% ) were tumbling 13% lower this week as of the market close on Thursday, based on data from S&P Global Market Intelligence. The company presented at the virtual J. P. Morgan Healthcare Conference on Wednesday. However, Editas had a generally positive message about its plans for 2022.
So what
It's hard for any stock to swim against the tide when a larger decline is underway. For investors who like Editas' prospects, the pullback this week could present a good buying opportunity. However, the stock remains highly risky with its lead pipeline candidate only in early-stage testing.
Now what
There are plenty of potential catalysts ahead for Editas. The company expects to report more results from its early-stage study of EDIT-101 in treating Leber congenital amaurosis 10, a rare genetic eye disease, in the second half of 2022. It also plans to announce initial clinical data for EDIT-301 in treating sickle cell disease this year.
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Why did Abbvie's deal with Caribou cause Editas stock to fall?
Why did AbbVie's deal with Caribou cause Editas stock to fall? Probably because the big drugmaker canceled a collaboration with Editas last year to develop a gene-editing therapy. Some investors appear to be viewing AbbVie's new partnership with Caribou as a clear snub of Editas.
Is Editas a phase 1 drug?
Editas has begun dosing patients for the safety portion of a phase 1 study evaluating EDIT-301 in treating sickle cell anemia. However, the company must obtain U.S. Food and Drug Administration (FDA) approval for an improved potency assay before it can enroll patients in the efficacy phase of the study. Editas' shares could enjoy a bump when it jumps this hurdle.
Is Editas a part of Abbvie?
First, Editas originally teamed up with Allergan -- not AbbVie. It was only after AbbVie's acquisition of Allergan in 2020 that the company scrapped its agreement with Editas. Second, the Editas-Allergan partnership focused on a gene-editing therapy targeting a rare eye disease, not a CAR-T therapy.
After a huge run-up in valuation, investors are a little spooked
Dr. Orelli is a Senior Biotech Specialist. He has written about biotech, pharmaceutical, and medical device companies for The Motley Fool since 2007. Follow @BiologyFool
What happened
Shares of Editas Medicine ( NASDAQ:EDIT) are down 10.7% at 1:50 p.m. EST today on no apparent news other than it's a high-flying biotech that's fallen out of favor with biotech investors of late. Shares of the gene-editing company are down about 28% over the last month but up about 64% over the last six months.
So what
Investors are likely still a little spooked about a change in leadership at Editas after James Mullen took over the CEO role from Cynthia Collins earlier this month. Mullen was chairman of Editas' board, so he has experience with the company.
Now what
Daily double-digit drops aren't fun to experience, but investors in gene-editing companies like Editas should be focused on multiyear returns. Investors will get to hear Mullen's vision for the future of Editas when the company reports fourth-quarter results on Thursday morning.
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