Public Employees Retirement System of Ohio Acquires 21,000 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Public Employees Retirement System of Ohio boosted its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 172.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,203 shares of the company’s stock after purchasing an additional 21,000 shares during the period. Public Employees Retirement System of Ohio’s holdings in Editas Medicine were worth $113,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd purchased a new position in shares of Editas Medicine in the third quarter worth about $47,000. XTX Topco Ltd bought a new position in Editas Medicine during the 3rd quarter worth approximately $179,000. Stifel Financial Corp increased its stake in Editas Medicine by 37.9% in the 3rd quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock worth $2,131,000 after purchasing an additional 171,656 shares during the period. Point72 DIFC Ltd bought a new stake in Editas Medicine in the third quarter valued at approximately $187,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Editas Medicine during the third quarter valued at approximately $366,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EDIT has been the subject of a number of recent analyst reports. Bank of America lowered shares of Editas Medicine from a “buy” rating to an “underperform” rating and lowered their price target for the company from $13.00 to $1.00 in a report on Monday, November 25th. JPMorgan Chase & Co. downgraded shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th. Wells Fargo & Company lowered 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 research report on Wednesday, December 11th. Finally, Royal Bank of Canada cut their price objective on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Editas Medicine currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Editas Medicine Price Performance

NASDAQ:EDIT opened at $1.31 on Friday. The company’s 50-day simple moving average is $2.58 and its 200 day simple moving average is $3.76. Editas Medicine, Inc. has a one year low of $1.28 and a one year high of $11.58. The firm has a market capitalization of $108.14 million, a P/E ratio of -0.51 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT) last posted 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 return on equity of 80.13% and a negative net margin of 340.96%. The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same quarter last year, the company earned ($0.55) EPS. The firm’s revenue for the quarter was down 98.9% on a year-over-year basis. On average, equities research analysts expect that Editas Medicine, Inc. will post -2.59 earnings per share for the current fiscal 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.