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

Townsquare Capital LLC raised its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 169.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,923 shares of the company’s stock after purchasing an additional 18,831 shares during the period. Townsquare Capital LLC’s holdings in Editas Medicine were worth $102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after buying an additional 7,758 shares in the last quarter. 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 Editas Medicine in the 3rd quarter worth approximately $39,000. Koss Olinger Consulting LLC acquired a new position in shares of Editas Medicine during the 2nd quarter worth approximately $47,000. Finally, China Universal Asset Management Co. Ltd. grew its position in shares of Editas Medicine by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock valued at $54,000 after purchasing an additional 6,202 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EDIT shares. Chardan Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Editas Medicine in a research report on Tuesday, November 5th. Bank of America lowered Editas Medicine from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Evercore ISI raised shares of Editas Medicine from an “in-line” rating to an “outperform” rating in a report on Wednesday, November 6th. Truist Financial cut their price objective on shares of Editas Medicine from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on shares of Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Editas Medicine presently has a consensus rating of “Hold” and a consensus target price of $7.92.

Editas Medicine Stock Performance

NASDAQ:EDIT opened at $2.14 on Friday. Editas Medicine, Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $11.58. The company has a 50 day moving average price of $2.89 and a 200 day moving average price of $4.03. The stock has a market capitalization of $176.66 million, a P/E ratio of -0.84 and a beta of 1.86.

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