Intech Investment Management LLC Buys 12,336 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Intech Investment Management LLC lifted its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 43.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,942 shares of the company’s stock after acquiring an additional 12,336 shares during the period. Intech Investment Management LLC’s holdings in Editas Medicine were worth $52,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Monaco Asset Management SAM bought a new position in Editas Medicine during the 4th quarter worth about $1,359,000. Jacobs Levy Equity Management Inc. boosted its position in shares of Editas Medicine by 133.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after buying an additional 302,652 shares during the period. Raymond James Financial Inc. bought a new position in shares of Editas Medicine during the fourth quarter worth about $303,000. Stifel Financial Corp raised its position in Editas Medicine by 37.9% in the 3rd 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 last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Editas Medicine during the 3rd quarter worth approximately $366,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Editas Medicine Trading Down 3.8 %

EDIT stock opened at $1.25 on Friday. The business’s 50 day simple moving average is $1.51 and its 200 day simple moving average is $2.18. Editas Medicine, Inc. has a 1-year low of $1.12 and a 1-year high of $7.41. The firm has a market capitalization of $103.72 million, a PE ratio of -0.49 and a beta of 1.88.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The company had revenue of $30.60 million during the quarter, compared to analyst estimates of $37.17 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts predict that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on EDIT shares. Royal Bank of Canada lowered their price objective on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, December 13th. Stifel Nicolaus cut shares of Editas Medicine from a “buy” rating to a “hold” rating and cut their price target for the stock from $11.00 to $3.00 in a research report on Friday, December 13th. Evercore ISI reduced their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Truist Financial downgraded Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Finally, Robert W. Baird reduced their price target on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Editas Medicine presently has a consensus rating of “Hold” and a consensus target price of $6.83.

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.