AQR Capital Management LLC Raises Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

AQR Capital Management LLC raised its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 117.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 45,890 shares of the company’s stock after acquiring an additional 24,758 shares during the period. AQR Capital Management LLC’s holdings in Editas Medicine were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EDIT. Los Angeles Capital Management LLC purchased a new position in shares of Editas Medicine during the 1st quarter worth $1,097,000. HB Wealth Management LLC bought a new stake in Editas Medicine during the first quarter valued at about $76,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Editas Medicine by 59.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company’s stock worth $2,246,000 after buying an additional 116,803 shares during the period. Jennison Associates LLC grew its holdings in Editas Medicine by 29.1% during the 1st quarter. Jennison Associates LLC now owns 106,520 shares of the company’s stock valued at $790,000 after buying an additional 24,000 shares in the last quarter. Finally, Headlands Technologies LLC raised its position in shares of Editas Medicine by 481.7% during the first quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after buying an additional 7,861 shares during the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Bank of America upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and upped their target price for the stock from $13.00 to $15.00 in a research report on Thursday, August 8th. Truist Financial dropped their price objective on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Barclays reduced their target price on Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $8.00 price target on shares of Editas Medicine in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.22.

Insiders Place Their Bets

In other news, EVP Linda Burkly sold 11,886 shares of the 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 sale, the executive vice president now owns 73,136 shares of the company’s stock, valued at approximately $396,397.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 13,959 shares of company stock valued at $71,512 over the last three months. 1.90% of the stock is owned by company insiders.

Editas Medicine Price Performance

Shares of NASDAQ EDIT opened at $3.31 on Friday. Editas Medicine, Inc. has a 1-year low of $2.91 and a 1-year high of $11.69. The business’s 50 day moving average is $3.62 and its two-hundred day moving average is $4.83. The stock has a market capitalization of $272.21 million, a P/E ratio of -1.58 and a beta of 1.99.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.12). Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The company had revenue of $0.51 million for the quarter, compared to the consensus estimate of $4.78 million. During the same period in the prior year, the firm posted ($0.56) EPS. The business’s revenue for the quarter was down 82.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Editas Medicine, Inc. will post -2.98 earnings per share for the current fiscal year.

Editas Medicine Profile

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.