Editas Medicine (EDIT) PT Lowered to $12 at Truist Securities

Truist Securities analyst Joon Lee lowered the price target on Editas Medicine (NASDAQ: EDIT) to $12.00 (from $20.00) while maintaining a Buy rating.

The analyst commented: "2Q24 update was notable for continued execution on reni-cel program in SCD/TDT. However, based on read-throughs from the Casgevy launch, the space may need fertility sparing strategies, either with non-chemo conditioning or in vivo approaches, to materially make inroads into SCD/TDT. HHS reversing their stance on covering for fertility preservation may also help. 2Q update was also notable for update on possible in vivo programs/ strategies. We look forward to data updates at ASH. We moderate our SCD/TDT estimates lowering our PT To $12 From $20."

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