GSA Capital Partners LLP Increases Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

GSA Capital Partners LLP lifted its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 89.0% during the third quarter, Holdings Channel reports. The fund owned 182,725 shares of the company’s stock after acquiring an additional 86,020 shares during the period. GSA Capital Partners LLP’s holdings in Editas Medicine were worth $623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Integral Health Asset Management LLC grew its position in shares of Editas Medicine by 50.0% during 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. Millennium Management LLC lifted its position in shares of 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 during the last quarter. Raymond James & Associates raised its stake in Editas Medicine by 49.7% in the second quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock valued at $2,460,000 after buying an additional 174,993 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Editas Medicine during the 2nd quarter worth about $786,000. Finally, Kennedy Capital Management LLC purchased a new stake in Editas Medicine during the first quarter worth approximately $988,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barclays reduced their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Truist Financial lowered their target price on shares of Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price target on shares of Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 5th. Raymond James cut shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus dropped their price target on Editas Medicine from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.08.

Editas Medicine Price Performance

Shares of EDIT stock opened at $2.52 on Tuesday. The business’s fifty day moving average price is $3.33 and its 200 day moving average price is $4.38. The firm has a market capitalization of $208.02 million, a PE ratio of -1.09 and a beta of 2.01. Editas Medicine, Inc. has a 1-year low of $2.51 and a 1-year high of $11.69.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting 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 firm had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $3.93 million. During the same quarter last year, the business earned ($0.55) earnings per share. The business’s revenue for the quarter was down 98.9% compared to the same quarter last year. Equities research analysts expect that Editas Medicine, Inc. will post -2.73 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.