Tidal Investments LLC Has $293,000 Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

Tidal Investments LLC lowered its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 26.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,999 shares of the company’s stock after selling 31,436 shares during the quarter. Tidal Investments LLC owned approximately 0.10% of Editas Medicine worth $293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EDIT. Jacobs Levy Equity Management Inc. lifted its stake in Editas Medicine by 133.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock valued at $1,807,000 after purchasing an additional 302,652 shares during the last quarter. Integral Health Asset Management LLC lifted its position in shares of 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 last quarter. Millennium Management LLC boosted its stake in shares of Editas Medicine by 10.0% during the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after acquiring an additional 223,012 shares during the period. Raymond James & Associates raised its stake in Editas Medicine by 49.7% in the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock valued at $2,460,000 after acquiring an additional 174,993 shares during the period. Finally, Stifel Financial Corp lifted its holdings in Editas Medicine by 37.9% during the 3rd quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock valued at $2,131,000 after purchasing an additional 171,656 shares during the last quarter. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Down 3.2 %

EDIT stock opened at $1.21 on Wednesday. The company’s 50-day moving average price is $2.54 and its two-hundred day moving average price is $3.72. The firm has a market cap of $99.88 million, a P/E ratio of -0.47 and a beta of 1.87. Editas Medicine, Inc. has a 12 month low of $1.20 and a 12 month high of $11.58.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share (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 analysts’ expectations of $3.93 million. During the same period last year, the firm posted ($0.55) earnings per share. The firm’s quarterly revenue was down 98.9% compared to the same quarter last year. Equities analysts predict that Editas Medicine, Inc. will post -2.59 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Raymond James lowered shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Stifel Nicolaus downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating and cut their price objective for the stock from $11.00 to $3.00 in a research report on Friday, December 13th. Robert W. Baird decreased their target price on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Evercore ISI dropped 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. Finally, Bank of America lowered Editas Medicine from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $13.00 to $1.00 in a report on Monday, November 25th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.00.

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.