Jennison Associates LLC Has $836,000 Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

Jennison Associates LLC cut its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 11.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,520 shares of the company’s stock after selling 10,280 shares during the period. Jennison Associates LLC owned about 0.10% of Editas Medicine worth $836,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of EDIT. SG Americas Securities LLC acquired a new stake in Editas Medicine in the third quarter worth $396,000. Commonwealth Equity Services LLC raised its holdings in Editas Medicine by 10.8% in the third quarter. Commonwealth Equity Services LLC now owns 28,093 shares of the company’s stock worth $219,000 after purchasing an additional 2,748 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Editas Medicine by 3.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 75,445 shares of the company’s stock worth $588,000 after purchasing an additional 2,453 shares during the period. Raymond James & Associates increased its position in shares of Editas Medicine by 5.8% during the third quarter. Raymond James & Associates now owns 274,303 shares of the company’s stock worth $2,140,000 after acquiring an additional 14,994 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in shares of Editas Medicine during the third quarter worth $81,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Editas Medicine Trading Up 1.9 %

Editas Medicine stock opened at $5.32 on Friday. The company has a market cap of $437.52 million, a P/E ratio of -2.60 and a beta of 2.01. Editas Medicine, Inc. has a 1-year low of $5.11 and a 1-year high of $11.91. The company has a fifty day simple moving average of $7.52 and a 200 day simple moving average of $8.32.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.29. The firm had revenue of $60.00 million during the quarter, compared to analysts’ expectations of $4.84 million. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The company’s revenue for the quarter was up 817.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.88) earnings per share. On average, equities research analysts forecast that Editas Medicine, Inc. will post -2.61 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on EDIT. JPMorgan Chase & Co. increased their price objective on shares of Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Barclays increased their price objective on shares of Editas Medicine from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 29th. Citigroup increased their price objective on shares of Editas Medicine from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the completion of the sale, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the sale, the senior vice president now owns 141,543 shares in the company, valued at approximately $1,333,335.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the sale, the chief executive officer now owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

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.