Green Alpha Advisors LLC Acquires 68,295 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Green Alpha Advisors LLC boosted its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 157.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 111,628 shares of the company’s stock after purchasing an additional 68,295 shares during the period. Green Alpha Advisors LLC’s holdings in Editas Medicine were worth $142,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after purchasing an additional 223,012 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted 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 buying an additional 302,652 shares during the period. Integral Health Asset Management LLC boosted its stake in Editas Medicine by 50.0% in the 2nd 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 in the last quarter. BNP Paribas Financial Markets grew its position in Editas Medicine by 37.3% in the third quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock valued at $187,000 after acquiring an additional 14,888 shares during the period. Finally, FMR LLC raised its stake in Editas Medicine by 110.7% during the third quarter. FMR LLC now owns 203,087 shares of the company’s stock worth $693,000 after acquiring an additional 106,684 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Trading Down 7.9 %

Editas Medicine stock opened at $1.16 on Tuesday. The company has a market cap of $95.76 million, a PE ratio of -0.45 and a beta of 1.95. Editas Medicine, Inc. has a 1 year low of $1.16 and a 1 year high of $11.58. The company’s 50-day moving average is $1.96 and its two-hundred day moving average is $3.31.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $3.93 million. During the same period in the prior year, the business posted ($0.55) earnings per share. Editas Medicine’s revenue was down 98.9% compared to the same quarter last year. Research analysts forecast that Editas Medicine, Inc. will post -2.62 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EDIT shares. Bank of America lowered shares of Editas Medicine from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Wells Fargo & Company cut 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 research note on Wednesday, December 11th. Royal Bank of Canada reduced their target price on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a 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. Finally, Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.