PDT Partners LLC grew its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 43.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 124,758 shares of the company’s stock after acquiring an additional 37,793 shares during the period. PDT Partners LLC owned 0.18% of Editas Medicine worth $1,527,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Covestor Ltd grew its position in Editas Medicine by 9,693.3% in the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock worth $28,000 after acquiring an additional 1,454 shares in the last quarter. Russell Investments Group Ltd. bought a new position in Editas Medicine during the second quarter valued at about $32,000. Quantbot Technologies LP acquired a new stake in shares of Editas Medicine in the first quarter worth about $44,000. Great West Life Assurance Co. Can bought a new stake in shares of Editas Medicine during the 3rd quarter worth about $48,000. Finally, Federated Hermes Inc. acquired a new position in shares of Editas Medicine during the 2nd quarter valued at about $67,000. 69.67% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on EDIT shares. Royal Bank of Canada reduced their target price on Editas Medicine from $14.00 to $10.00 and set a “sector perform” rating for the company in a report on Thursday. Cantor Fitzgerald initiated coverage on shares of Editas Medicine in a research note on Tuesday, January 31st. They issued an “overweight” rating and a $15.00 target price on the stock. Evercore ISI dropped their target price on shares of Editas Medicine to $8.00 in a report on Monday, November 21st. Credit Suisse Group restated a “neutral” rating and set a $13.00 price target on shares of Editas Medicine in a report on Tuesday, December 6th. Finally, SVB Leerink boosted their price objective on Editas Medicine from $6.00 to $7.00 and gave the stock a “market perform” rating in a research report on Monday, January 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Editas Medicine has an average rating of “Hold” and an average target price of $15.20.
Insiders Place Their Bets
In other news, EVP Mark S. Shearman sold 2,790 shares of Editas Medicine stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $9.67, for a total value of $26,979.30. Following the completion of the transaction, the executive vice president now owns 65,559 shares in the company, valued at $633,955.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Michelle Robertson sold 4,287 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $9.67, for a total transaction of $41,455.29. Following the sale, the chief financial officer now directly owns 76,243 shares of the company’s stock, valued at $737,269.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark S. Shearman sold 2,790 shares of the business’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total transaction of $26,979.30. Following the completion of the transaction, the executive vice president now owns 65,559 shares of the company’s stock, valued at approximately $633,955.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,175 shares of company stock valued at $86,572. 1.30% of the stock is currently owned by insiders.
Editas Medicine Price Performance
Editas Medicine stock opened at $9.75 on Thursday. The business has a 50 day simple moving average of $9.32 and a 200 day simple moving average of $11.75. Editas Medicine, Inc. has a one year low of $7.70 and a one year high of $21.59. The company has a market capitalization of $670.41 million, a PE ratio of -3.32 and a beta of 1.87.
Editas Medicine (NASDAQ:EDIT – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.84) by ($0.04). Editas Medicine had a negative net margin of 784.32% and a negative return on equity of 41.33%. The company had revenue of $6.54 million for the quarter, compared to the consensus estimate of $3.76 million. During the same period in the previous year, the business posted ($0.61) earnings per share. The firm’s revenue was down 47.6% compared to the same quarter last year. Equities analysts anticipate that Editas Medicine, Inc. will post -3.15 earnings per share for the current fiscal year.
About Editas Medicine
Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.