Hsbc Holdings PLC Raises Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

Hsbc Holdings PLC lifted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 148.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,794 shares of the company’s stock after buying an additional 62,561 shares during the quarter. Hsbc Holdings PLC owned approximately 0.13% of Editas Medicine worth $488,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Koss Olinger Consulting LLC purchased a new stake in Editas Medicine in the 2nd quarter worth $47,000. Hoylecohen LLC acquired a new position in shares of Editas Medicine during the 2nd quarter worth about $55,000. Spectrum Planning & Advisory Services Inc. purchased a new position in Editas Medicine in the 2nd quarter valued at about $57,000. Aries Wealth Management acquired a new stake in Editas Medicine in the 2nd quarter worth about $65,000. Finally, Headlands Technologies LLC increased its stake in Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after buying an additional 7,861 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Oppenheimer restated a “market perform” rating and issued a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, June 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $8.00 target price on shares of Editas Medicine in a research note on Thursday, September 19th. Bank of America upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and increased their target price for the company from $13.00 to $15.00 in a research report on Thursday, August 8th. Barclays dropped their price objective on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, August 8th. Finally, Truist Financial decreased their target price on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and an average target price of $10.22.

Insider Buying and Selling at Editas Medicine

In other news, EVP Baisong Mei sold 6,619 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $5.21, for a total value of $34,484.99. Following the transaction, the executive vice president now directly owns 134,413 shares in the company, valued at approximately $700,291.73. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Editas Medicine news, EVP Baisong Mei sold 6,619 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $5.21, for a total transaction of $34,484.99. Following the transaction, the executive vice president now directly owns 134,413 shares in the company, valued at $700,291.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Linda Burkly sold 11,886 shares of Editas Medicine stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $5.42, for a total value of $64,422.12. Following the completion of the sale, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at $396,397.12. The disclosure for this sale can be found here. Insiders sold a total of 20,578 shares of company stock worth $105,997 over the last three months. Insiders own 1.90% of the company’s stock.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $3.41 on Tuesday. The stock has a 50 day moving average of $4.14 and a 200 day moving average of $5.22. The firm has a market capitalization of $280.43 million, a price-to-earnings ratio of -1.62 and a beta of 1.99. Editas Medicine, Inc. has a fifty-two week low of $3.37 and a fifty-two week high of $11.69.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.12). The business had revenue of $0.51 million for the quarter, compared to analyst estimates of $4.78 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The firm’s revenue for the quarter was down 82.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.56) earnings per share. Analysts forecast that Editas Medicine, Inc. will post -2.97 EPS for the current year.

About Editas Medicine

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.