Dynamic Technology Lab Private Ltd Takes $240,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Dynamic Technology Lab Private Ltd purchased a new position in Editas Medicine, Inc. (NASDAQ:EDIT) during the third quarter, Holdings Channel.com reports. The firm purchased 70,408 shares of the company’s stock, valued at approximately $240,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Signaturefd LLC raised its holdings in shares of Editas Medicine by 494.8% during the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after acquiring an additional 7,758 shares during the period. Koss Olinger Consulting LLC acquired a new stake in Editas Medicine during the 2nd quarter valued at $47,000. Ballentine Partners LLC purchased a new stake in shares of Editas Medicine in the third quarter valued at $36,000. Arcadia Investment Management Corp MI purchased a new stake in shares of Editas Medicine in the third quarter valued at $39,000. Finally, Hoylecohen LLC purchased a new position in shares of Editas Medicine during the second quarter valued at $55,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Royal Bank of Canada reduced their price objective on 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. Wells Fargo & Company decreased their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus cut their target price on shares of Editas Medicine from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Truist Financial decreased their target price on shares of Editas Medicine from $12.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, Bank of America downgraded shares of Editas Medicine from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $13.00 to $1.00 in a research note on Monday, November 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Editas Medicine has an average rating of “Hold” and an average target price of $7.92.

Editas Medicine Price Performance

Shares of NASDAQ:EDIT opened at $2.24 on Monday. The stock has a market capitalization of $184.91 million, a P/E ratio of -0.88 and a beta of 2.01. The business has a 50-day moving average of $3.04 and a two-hundred day moving average of $4.15. Editas Medicine, Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $11.69.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same period in the previous year, the company earned ($0.55) EPS. The company’s revenue for the quarter was down 98.9% on a year-over-year basis. As a group, research analysts expect that Editas Medicine, Inc. will post -2.63 EPS 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.