Quantamental Technologies LLC purchased a new stake in Editas Medicine Inc (NASDAQ:EDIT) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,811 shares of the company’s stock, valued at approximately $45,000.
Several other hedge funds also recently modified their holdings of EDIT. ARK Investment Management LLC lifted its holdings in shares of Editas Medicine by 6.3% during the 2nd quarter. ARK Investment Management LLC now owns 4,848,148 shares of the company’s stock worth $119,943,000 after acquiring an additional 288,714 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of Editas Medicine by 319.8% during the second quarter. Nikko Asset Management Americas Inc. now owns 3,111,700 shares of the company’s stock valued at $76,983,000 after buying an additional 2,370,395 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Editas Medicine by 109.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,514,927 shares of the company’s stock valued at $37,479,000 after buying an additional 792,931 shares during the period. Federated Investors Inc. PA increased its position in shares of Editas Medicine by 7.0% during the first quarter. Federated Investors Inc. PA now owns 605,500 shares of the company’s stock valued at $14,804,000 after buying an additional 39,800 shares during the period. Finally, Great Lakes Advisors LLC purchased a new position in shares of Editas Medicine during the first quarter valued at about $6,753,000. Institutional investors and hedge funds own 79.16% of the company’s stock.
Several equities analysts recently issued reports on the stock. BidaskClub cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Morgan Stanley set a $29.00 price target on shares of Editas Medicine and gave the company a “hold” rating in a research report on Friday, August 9th. ValuEngine upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Chardan Capital reiterated a “buy” rating and set a $55.00 price target on shares of Editas Medicine in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $36.40.
In other Editas Medicine news, CEO Cynthia Collins sold 5,193 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $25.83, for a total value of $134,135.19. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.94% of the stock is currently owned by corporate insiders.
EDIT traded down $0.59 during midday trading on Friday, reaching $25.50. The company’s stock had a trading volume of 573,770 shares, compared to its average volume of 552,525. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.45 and a quick ratio of 4.45. Editas Medicine Inc has a 1 year low of $17.80 and a 1 year high of $33.80. The stock’s 50-day moving average is $24.94 and its 200-day moving average is $24.12.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.59) by ($0.10). The business had revenue of $2.33 million during the quarter, compared to analysts’ expectations of $6.88 million. Editas Medicine had a negative return on equity of 47.46% and a negative net margin of 412.70%. Editas Medicine’s revenue for the quarter was down 68.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.82) EPS. Analysts anticipate that Editas Medicine Inc will post -2.58 earnings per share for the current fiscal year.
Editas Medicine Company Profile
Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.
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