Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Up 5.4% in December

Editas Medicine, Inc. (NASDAQ:EDIT) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 16,930,000 shares, a growth of 5.4% from the November 30th total of 16,060,000 shares. Based on an average daily volume of 2,450,000 shares, the days-to-cover ratio is currently 6.9 days.

Editas Medicine Trading Up 5.8 %

Shares of NASDAQ EDIT opened at $1.27 on Thursday. The firm has a market capitalization of $104.84 million, a PE ratio of -0.50 and a beta of 1.87. The firm’s 50-day moving average is $2.24 and its 200-day moving average is $3.53. Editas Medicine has a 1 year low of $1.16 and a 1 year high of $11.58.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting 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 business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. During the same quarter in the previous year, the business posted ($0.55) EPS. Editas Medicine’s revenue for the quarter was down 98.9% on a year-over-year basis. As a group, equities research analysts anticipate that Editas Medicine will post -2.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EDIT shares. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. Bank of America lowered Editas Medicine from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $13.00 to $1.00 in a research note on Monday, November 25th. Evercore ISI reduced their target price on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Barclays dropped their target price on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research report on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.00.

Institutional Trading of Editas Medicine

Hedge funds and other institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. grew its stake in shares of Editas Medicine by 133.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after acquiring an additional 302,652 shares in the last quarter. Integral Health Asset Management LLC grew its holdings in 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 purchasing an additional 225,000 shares during the period. Millennium Management LLC increased its position in Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after buying an additional 223,012 shares during the last quarter. Stifel Financial Corp raised its stake in Editas Medicine by 37.9% in the third quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock valued at $2,131,000 after buying an additional 171,656 shares during the period. Finally, Caxton Associates LP acquired a new stake in shares of Editas Medicine in the second quarter valued at approximately $600,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Company 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.