Editas Medicine, Inc. (NASDAQ:EDIT) Stock Holdings Increased by Raymond James & Associates

Raymond James & Associates increased its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 49.7% during the second quarter, Holdings Channel reports. The firm owned 526,815 shares of the company’s stock after purchasing an additional 174,993 shares during the period. Raymond James & Associates’ holdings in Editas Medicine were worth $2,460,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jump Financial LLC raised its holdings in shares of Editas Medicine by 42.0% in the 4th quarter. Jump Financial LLC now owns 28,159 shares of the company’s stock worth $285,000 after purchasing an additional 8,329 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Editas Medicine by 28.9% in the 4th quarter. Trexquant Investment LP now owns 241,754 shares of the company’s stock worth $2,449,000 after purchasing an additional 54,245 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Editas Medicine in the 4th quarter worth approximately $1,482,000. Los Angeles Capital Management LLC bought a new stake in shares of Editas Medicine in the 1st quarter worth approximately $1,097,000. Finally, Vanguard Group Inc. increased its position in shares of Editas Medicine by 1.1% in the first quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock worth $63,483,000 after acquiring an additional 93,740 shares in the last quarter. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Stock Performance

Shares of EDIT opened at $3.74 on Monday. The company’s 50 day moving average price is $4.69 and its 200 day moving average price is $5.95. Editas Medicine, Inc. has a 52 week low of $3.62 and a 52 week high of $11.69. The company has a market capitalization of $308.48 million, a PE ratio of -1.78 and a beta of 2.01.

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

Insiders Place Their Bets

In other Editas Medicine news, EVP Linda Burkly sold 11,886 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Editas Medicine news, EVP Baisong Mei sold 6,619 shares of the business’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 completion of the sale, the executive vice president now directly owns 134,413 shares of the company’s stock, valued at $700,291.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Linda Burkly sold 11,886 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $5.42, for a total transaction 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 31,207 shares of company stock valued at $168,768 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EDIT shares. Truist Financial dropped 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 report on Thursday, August 8th. StockNews.com downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Citigroup dropped their target price on shares of Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Barclays dropped their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI dropped their target price on shares of Editas Medicine from $15.00 to $7.00 and set an “in-line” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

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.