Y Intercept Hong Kong Ltd Makes New $47,000 Investment in Editas Medicine, Inc. (NASDAQ:EDIT)

Y Intercept Hong Kong Ltd purchased a new position in Editas Medicine, Inc. (NASDAQ:EDIT) in the third quarter, Holdings Channel reports. The institutional investor purchased 13,662 shares of the company’s stock, valued at approximately $47,000.

Several other hedge funds also recently made changes to their positions in the stock. Millennium Management LLC lifted its holdings in Editas Medicine by 10.0% during the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after purchasing an additional 223,012 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Editas Medicine by 133.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock valued at $1,807,000 after buying an additional 302,652 shares during the period. Integral Health Asset Management LLC lifted its holdings in shares of Editas Medicine by 50.0% in the second quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after buying an additional 225,000 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Editas Medicine by 37.3% in the third quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock valued at $187,000 after acquiring an additional 14,888 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Editas Medicine during the third quarter valued at approximately $240,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EDIT shares. Chardan Capital reiterated a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th. Wells Fargo & Company downgraded Editas Medicine from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $7.00 to $4.00 in a research report on Wednesday, December 11th. Raymond James cut Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Stifel Nicolaus cut Editas Medicine from a “buy” rating to a “hold” rating and lowered their price target for the company from $11.00 to $3.00 in a report on Friday, December 13th. Finally, Bank of America lowered Editas Medicine from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Editas Medicine has a consensus rating of “Hold” and an average price target of $7.00.

Editas Medicine Stock Performance

Shares of EDIT opened at $1.34 on Friday. Editas Medicine, Inc. has a fifty-two week low of $1.28 and a fifty-two week high of $11.58. The firm has a market cap of $110.61 million, a price-to-earnings ratio of -0.52 and a beta of 1.86. The firm has a 50 day moving average price of $2.62 and a 200-day moving average price of $3.81.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate 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 period in the previous year, the firm posted ($0.55) earnings per share. The firm’s revenue for the quarter was down 98.9% on a year-over-year basis. As a group, equities research analysts predict that Editas Medicine, Inc. will post -2.59 earnings per share for the current year.

Editas Medicine Company 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.