Intech Investment Management LLC Has $52,000 Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

Intech Investment Management LLC raised its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 43.1% in the 4th quarter, Holdings Channel reports. The firm owned 40,942 shares of the company’s stock after acquiring an additional 12,336 shares during the period. Intech Investment Management LLC’s holdings in Editas Medicine were worth $52,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Monaco Asset Management SAM bought a new position in shares of Editas Medicine in the 4th quarter valued at $1,359,000. Jacobs Levy Equity Management Inc. boosted its stake in Editas Medicine by 133.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock valued at $1,807,000 after buying an additional 302,652 shares in the last quarter. Raymond James Financial Inc. bought a new position in Editas Medicine in the fourth quarter valued at about $303,000. Stifel Financial Corp raised its stake in Editas Medicine by 37.9% during the third quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock worth $2,131,000 after acquiring an additional 171,656 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Editas Medicine in the third quarter worth about $366,000. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Stock Performance

Editas Medicine stock opened at $1.25 on Friday. The firm has a 50 day moving average price of $1.51 and a two-hundred day moving average price of $2.18. Editas Medicine, Inc. has a 52-week low of $1.12 and a 52-week high of $7.41. The firm has a market cap of $103.72 million, a price-to-earnings ratio of -0.49 and a beta of 1.88.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.16). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $30.60 million during the quarter, compared to analyst estimates of $37.17 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, equities research analysts predict that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EDIT has been the subject of a number of research analyst reports. Wells Fargo & Company cut shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $7.00 to $4.00 in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Evercore ISI reduced their price objective on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Truist Financial cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Barclays cut their price target on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.83.

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.