Tidal Investments LLC Has $293,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Tidal Investments LLC cut its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 26.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 85,999 shares of the company’s stock after selling 31,436 shares during the period. Tidal Investments LLC’s holdings in Editas Medicine were worth $293,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC grew its position in Editas Medicine by 46.9% during the 3rd quarter. Barclays PLC now owns 178,507 shares of the company’s stock worth $607,000 after acquiring an additional 56,986 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Editas Medicine by 172.1% during the third quarter. Public Employees Retirement System of Ohio now owns 33,203 shares of the company’s stock worth $113,000 after purchasing an additional 21,000 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Editas Medicine in the third quarter valued at approximately $47,000. XTX Topco Ltd bought a new position in Editas Medicine in the 3rd quarter valued at approximately $179,000. Finally, Stifel Financial Corp boosted its position in Editas Medicine by 37.9% during the 3rd quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock worth $2,131,000 after buying an additional 171,656 shares during the period. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EDIT shares. Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Robert W. Baird decreased their price objective on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Barclays cut their target price on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company cut Editas Medicine from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $7.00 to $4.00 in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada reduced their target price on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $7.00.

Editas Medicine Price Performance

EDIT stock opened at $1.21 on Wednesday. The company’s 50-day moving average is $2.54 and its 200-day moving average is $3.72. The stock has a market capitalization of $99.88 million, a PE ratio of -0.47 and a beta of 1.87. Editas Medicine, Inc. has a 1 year low of $1.20 and a 1 year high of $11.58.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.75). The business had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company’s quarterly revenue was down 98.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.55) earnings per share. On average, analysts anticipate that Editas Medicine, Inc. will post -2.59 earnings per share for the current fiscal year.

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.