International Assets Investment Management LLC Grows Stock Position in Editas Medicine, Inc. (NASDAQ:EDIT)

International Assets Investment Management LLC increased its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 262.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,863 shares of the company’s stock after acquiring an additional 82,406 shares during the quarter. International Assets Investment Management LLC’s holdings in Editas Medicine were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC increased its holdings in 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 in the last quarter. Integral Health Asset Management LLC increased its holdings in 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 in the last quarter. Vanguard Group Inc. increased its holdings in Editas Medicine by 1.1% in the 1st 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. Price T Rowe Associates Inc. MD increased its holdings in Editas Medicine by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock worth $369,000 after acquiring an additional 7,174 shares in the last quarter. Finally, Kennedy Capital Management LLC purchased a new stake in Editas Medicine in the 1st quarter worth approximately $988,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Stock Performance

NASDAQ EDIT opened at $3.28 on Thursday. The company has a market capitalization of $270.52 million, a P/E ratio of -1.28 and a beta of 2.01. Editas Medicine, Inc. has a one year low of $2.70 and a one year high of $11.69. The stock has a 50 day moving average price of $3.42 and a 200-day moving average price of $4.50.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting analysts’ consensus estimates of ($0.75). The firm had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The company’s quarterly revenue was down 98.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.55) EPS. As a group, equities analysts predict that Editas Medicine, Inc. will post -2.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Editas Medicine from $17.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday. Chardan Capital reissued a “buy” rating and issued a $12.00 target price on shares of Editas Medicine in a report on Tuesday. Raymond James downgraded Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday. Royal Bank of Canada dropped their price target on Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating for the company in a research note on Tuesday. Finally, Bank of America upgraded Editas Medicine from a “neutral” rating to a “buy” rating and upped their price target for the stock from $13.00 to $15.00 in a research note on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and an average price target of $9.08.

Editas Medicine 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.