Editas Medicine, Inc. (NASDAQ:EDIT) Shares Purchased by Fmr LLC

Fmr LLC grew its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 110.7% during the third quarter, HoldingsChannel reports. The firm owned 203,087 shares of the company’s stock after buying an additional 106,684 shares during the period. Fmr LLC’s holdings in Editas Medicine were worth $693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EDIT. Millennium Management LLC grew its stake in shares of Editas Medicine by 10.0% in the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after buying an additional 223,012 shares in the last quarter. Integral Health Asset Management LLC grew its position in Editas Medicine by 50.0% in the second quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock valued at $3,152,000 after acquiring an additional 225,000 shares in the last quarter. Raymond James & Associates raised its stake in shares of Editas Medicine by 49.7% during the second quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock valued at $2,460,000 after purchasing an additional 174,993 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Editas Medicine by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 296,154 shares of the company’s stock worth $1,383,000 after purchasing an additional 11,332 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Editas Medicine by 90.4% during the third quarter. Jennison Associates LLC now owns 237,745 shares of the company’s stock worth $811,000 after purchasing an additional 112,857 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Price Performance

EDIT stock opened at $1.52 on Wednesday. The firm has a market cap of $125.47 million, a price-to-earnings ratio of -0.59 and a beta of 1.86. Editas Medicine, Inc. has a 1-year low of $1.39 and a 1-year high of $11.58. The firm has a fifty day moving average price of $2.72 and a two-hundred day moving average price of $3.87.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. The company’s revenue for the quarter was down 98.9% compared to the same quarter last year. As a group, analysts expect that Editas Medicine, Inc. will post -2.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EDIT. Wells Fargo & Company lowered shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $7.00 to $4.00 in a report on Wednesday, December 11th. Stifel Nicolaus downgraded Editas Medicine from a “buy” rating to a “hold” rating and lowered their target price for the company from $11.00 to $3.00 in a research note on Friday, December 13th. Bank of America lowered Editas Medicine from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $13.00 to $1.00 in a research report on Monday, November 25th. Robert W. Baird reduced their price target on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Finally, Barclays dropped their price objective on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Editas Medicine presently has a consensus rating of “Hold” and an average target price of $7.00.

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.