Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,887,696 shares of the company’s stock after selling 78,126 shares during the period. Geode Capital Management LLC’s holdings in Editas Medicine were worth $6,439,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Millennium Management LLC lifted its stake in shares of Editas Medicine by 10.0% in the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after purchasing an additional 223,012 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Editas Medicine by 133.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock valued at $1,807,000 after buying an additional 302,652 shares during the period. Integral Health Asset Management LLC raised its holdings in Editas Medicine by 50.0% in the second quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock valued at $3,152,000 after buying an additional 225,000 shares during the period. BNP Paribas Financial Markets grew its stake in Editas Medicine by 37.3% during the third quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock worth $187,000 after buying an additional 14,888 shares during the period. Finally, FMR LLC increased its position in shares of Editas Medicine by 110.7% in the third quarter. FMR LLC now owns 203,087 shares of the company’s stock worth $693,000 after acquiring an additional 106,684 shares in the last quarter. 71.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays cut their price objective on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Royal Bank of Canada reduced their price target on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, December 13th. Evercore ISI decreased their price target on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Robert W. Baird dropped their price objective on shares of Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Editas Medicine 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.com, the stock has an average rating of “Hold” and an average price target of $7.00.

Editas Medicine Stock Performance

Shares of EDIT opened at $1.34 on Friday. The firm has a market capitalization of $110.61 million, a price-to-earnings ratio of -0.52 and a beta of 1.87. The stock’s fifty day moving average is $2.17 and its 200-day moving average is $3.49. Editas Medicine, Inc. has a one year low of $1.16 and a one year high of $11.58.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data 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 analyst estimates of $3.93 million. During the same quarter last year, the business earned ($0.55) earnings per share. The business’s revenue for the quarter was down 98.9% on a year-over-year basis. Analysts forecast that Editas Medicine, Inc. will post -2.59 EPS for the current fiscal year.

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.