Editas Medicine initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Editas Medicine (EDIT) with a Buy rating and $3 price target Editas is a preclinical-stage genetic medicines company developing transformative therapies that utilize AsCas12a nuclease CRISPR technology to make genetic edits in vivo, the analyst tells investors in a research note. The firm says the company’s in vivo gene editing platform currently looks undervalued. The negative current enterprise value, with a $130M market cap and $270M in cash, “provides a risk-mitigated opportunity to own a differentiated gene editing company,” contends H.C. Wainwright.