Charles Schwab Investment Management Inc. Lowers Stock Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Charles Schwab Investment Management Inc. lessened its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 15.8% during the third quarter, Holdings Channel.com reports. The firm owned 617,280 shares of the company’s stock after selling 116,105 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Editas Medicine were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. 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 in the last quarter. Integral Health Asset Management LLC boosted its stake in shares of Editas Medicine by 50.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after acquiring an additional 225,000 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Editas Medicine by 49.7% during 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. Bank of New York Mellon Corp boosted its stake in shares of Editas Medicine by 4.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 296,154 shares of the company’s stock worth $1,383,000 after acquiring an additional 11,332 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Editas Medicine by 90.4% during the 3rd quarter. Jennison Associates LLC now owns 237,745 shares of the company’s stock worth $811,000 after acquiring an additional 112,857 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Wall Street Analyst Weigh In

EDIT has been the topic of a number of recent research reports. Truist Financial lowered Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday. Chardan Capital reaffirmed a “neutral” rating on shares of Editas Medicine in a research note on Friday. Evercore ISI upgraded Editas Medicine from an “in-line” rating to an “outperform” rating in a report on Wednesday, November 6th. Wells Fargo & Company downgraded Editas Medicine from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $7.00 to $4.00 in a report on Wednesday, December 11th. Finally, Stifel Nicolaus downgraded Editas Medicine from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $3.00 in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Editas Medicine currently has an average rating of “Hold” and an average target price of $6.85.

Editas Medicine Trading Down 23.8 %

Shares of Editas Medicine stock opened at $1.44 on Monday. The company has a fifty day moving average price of $2.76 and a 200 day moving average price of $3.89. Editas Medicine, Inc. has a twelve month low of $1.41 and a twelve month high of $11.58. The stock has a market cap of $118.87 million, a price-to-earnings ratio of -0.56 and a beta of 1.86.

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