China Universal Asset Management Co. Ltd. Buys 6,202 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

China Universal Asset Management Co. Ltd. grew its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 64.2% in the 3rd quarter, Holdings Channel reports. The firm owned 15,863 shares of the company’s stock after acquiring an additional 6,202 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Editas Medicine were worth $54,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC raised its stake in Editas Medicine by 494.8% during 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 during the last quarter. Headlands Technologies LLC lifted its stake in shares of Editas Medicine by 481.7% in the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after purchasing an additional 7,861 shares during the period. EntryPoint Capital LLC bought a new stake in shares of Editas Medicine during the 1st quarter valued at about $72,000. Koss Olinger Consulting LLC acquired a new stake in Editas Medicine during the second quarter worth approximately $47,000. Finally, HB Wealth Management LLC bought a new stake in Editas Medicine in the first quarter worth approximately $76,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Stock Performance

EDIT stock opened at $2.90 on Friday. The business has a 50-day simple moving average of $3.50 and a two-hundred day simple moving average of $4.59. The company has a market capitalization of $238.49 million, a P/E ratio of -1.38 and a beta of 1.99. Editas Medicine, Inc. has a 52-week low of $2.90 and a 52-week high of $11.69.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.12). Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The company had revenue of $0.51 million for the quarter, compared to the consensus estimate of $4.78 million. During the same quarter last year, the company posted ($0.56) EPS. The company’s quarterly revenue was down 82.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Editas Medicine, Inc. will post -2.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EDIT has been the topic of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $8.00 price target on shares of Editas Medicine in a report on Thursday, September 19th. Chardan Capital reduced their price target on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Evercore ISI dropped their price objective on shares of Editas Medicine from $7.00 to $3.00 and set an “in-line” rating on the stock in a report on Wednesday, October 23rd. Bank of America upgraded Editas Medicine from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $15.00 in a research note on Thursday, August 8th. Finally, Truist Financial dropped their price target on Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $9.91.

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.