Editas Medicine slides on $125 mln stock offering

Editas Medicine

15/06/2023 12:03

** Editas Medicine Inc's  EDIT.O  shares down 7.1% at $10.30
premarket as gene editing firm's overnight follow-on prices
    ** Co late Weds sold 12.5 mln shares at $10, 9.8% discount
to last sale, for $125 mln raise
    ** Co has 69 mln shares outstanding
    ** Prior to offering, stock gained 15.5% since co on Jun 9
reported positive initial data from blood disorder treatment
trials
    ** YTD, stock up 25% through Weds close
    ** JP Morgan, Cowen and Evercore acting as jt bookrunners
for offering
    ** Avg rating among 20 analysts covering EDIT is "hold" and
median PT is $12 - Refinitiv

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))