Editas Medicine, Inc. (NASDAQ:EDIT) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 20.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 24,485 shares of the company’s stock after buying an additional 4,089 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Editas Medicine were worth $83,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Editas Medicine by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after buying an additional 93,740 shares during the period. Millennium Management LLC lifted its stake in shares of Editas Medicine by 10.0% in the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after acquiring an additional 223,012 shares during the period. Integral Health Asset Management LLC lifted its stake in shares of Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after acquiring an additional 225,000 shares during the period. Raymond James & Associates lifted its stake in shares of Editas Medicine by 49.7% in the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock worth $2,460,000 after acquiring an additional 174,993 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Editas Medicine by 59.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company’s stock worth $2,246,000 after purchasing an additional 116,803 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on EDIT shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 target price on shares of Editas Medicine in a report on Thursday, September 19th. Barclays cut their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Chardan Capital dropped their price objective on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial dropped their price objective on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI decreased their target price on shares of Editas Medicine from $7.00 to $3.00 and set an “in-line” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.91.

Editas Medicine Stock Performance

Shares of EDIT stock opened at $2.88 on Tuesday. Editas Medicine, Inc. has a 52-week low of $2.70 and a 52-week high of $11.69. The stock has a market cap of $237.54 million, a price-to-earnings ratio of -1.22 and a beta of 2.01. The firm has a fifty day moving average of $3.44 and a 200-day moving average of $4.52.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.12). The firm had revenue of $0.51 million for the quarter, compared to analyst estimates of $4.78 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The company’s revenue for the quarter was down 82.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.56) EPS. On average, sell-side analysts predict that Editas Medicine, Inc. will post -2.96 earnings per share for the current 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.