Editas Medicine, Inc. (NASDAQ:EDIT) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC grew its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 169.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,923 shares of the company’s stock after buying an additional 18,831 shares during the quarter. Townsquare Capital LLC’s holdings in Editas Medicine were worth $102,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EDIT. Signaturefd LLC boosted its holdings in Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after purchasing an additional 7,758 shares during the period. Ballentine Partners LLC acquired a new stake in Editas Medicine in the 3rd quarter valued at about $36,000. Arcadia Investment Management Corp MI purchased a new position in shares of Editas Medicine in the 3rd quarter valued at about $39,000. Koss Olinger Consulting LLC purchased a new position in shares of Editas Medicine in the 2nd quarter valued at about $47,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in shares of Editas Medicine by 64.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock worth $54,000 after buying an additional 6,202 shares during the period. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Up 12.0 %

EDIT opened at $2.14 on Friday. Editas Medicine, Inc. has a 52 week low of $1.89 and a 52 week high of $11.58. The business’s 50 day moving average is $2.89 and its two-hundred day moving average is $4.03. The firm has a market cap of $176.66 million, a price-to-earnings ratio of -0.84 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. During the same period in the previous year, the company posted ($0.55) EPS. The company’s quarterly revenue was down 98.9% on a year-over-year basis. Equities analysts expect that Editas Medicine, Inc. will post -2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EDIT. Evercore ISI upgraded shares of Editas Medicine from an “in-line” rating to an “outperform” rating in a research note on Wednesday, November 6th. Raymond James cut shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Truist Financial dropped their target price on Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price target on Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Stifel Nicolaus dropped their price objective on Editas Medicine from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $7.92.

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.