Stifel Financial Corp Buys 171,656 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Stifel Financial Corp increased its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 37.9% during the third quarter, HoldingsChannel.com reports. The firm owned 624,876 shares of the company’s stock after buying an additional 171,656 shares during the period. Stifel Financial Corp’s holdings in Editas Medicine were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. increased its position 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 purchasing an additional 302,652 shares in the last quarter. Integral Health Asset Management LLC increased its holdings in shares of 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 buying an additional 225,000 shares in the last quarter. Millennium Management LLC raised its stake in shares of Editas Medicine by 10.0% in the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after acquiring an additional 223,012 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Editas Medicine by 49.7% in the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock worth $2,460,000 after acquiring an additional 174,993 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in Editas Medicine during the 2nd quarter worth approximately $600,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Stock Down 0.7 %

Shares of Editas Medicine stock opened at $1.34 on Friday. The business has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $3.81. The stock has a market cap of $110.61 million, a PE ratio of -0.52 and a beta of 1.86. Editas Medicine, Inc. has a 12 month low of $1.28 and a 12 month high of $11.58.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.75). The company had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company’s revenue for the quarter was down 98.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.55) EPS. Analysts expect that Editas Medicine, Inc. will post -2.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Stifel Nicolaus downgraded Editas Medicine from a “buy” rating to a “hold” rating and cut their price objective for the company from $11.00 to $3.00 in a research report on Friday, December 13th. Truist Financial cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Wells Fargo & Company lowered shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $7.00 to $4.00 in a report on Wednesday, December 11th. Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Finally, Barclays reduced their target price on shares of 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. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

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.