Editas Medicine, Inc. (NASDAQ:EDIT) Stake Lowered by Geode Capital Management LLC

Geode Capital Management LLC decreased its stake in Editas Medicine, Inc. (NASDAQ:EDIT) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 1,808,563 shares of the company’s stock after selling 79,133 shares during the period. Geode Capital Management LLC’s holdings in Editas Medicine were worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Editas Medicine by 2.1% in the fourth quarter. JPMorgan Chase & Co. now owns 787,599 shares of the company’s stock worth $1,000,000 after buying an additional 16,419 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Editas Medicine by 35.5% during the fourth quarter. Prudential Financial Inc. now owns 196,977 shares of the company’s stock valued at $250,000 after acquiring an additional 51,600 shares during the period. Sei Investments Co. bought a new position in shares of Editas Medicine during the fourth quarter worth about $106,000. Virtu Financial LLC acquired a new stake in shares of Editas Medicine in the 4th quarter worth about $90,000. Finally, Intech Investment Management LLC lifted its position in Editas Medicine by 43.1% in the 4th quarter. Intech Investment Management LLC now owns 40,942 shares of the company’s stock valued at $52,000 after purchasing an additional 12,336 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright assumed coverage on shares of Editas Medicine in a research report on Monday. They issued a “buy” rating and a $3.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Editas Medicine presently has an average rating of “Hold” and an average target price of $6.54.

Editas Medicine Trading Down 1.9 %

NASDAQ:EDIT opened at $1.55 on Wednesday. The company has a 50-day moving average of $1.43 and a 200-day moving average of $1.81. The firm has a market cap of $129.75 million, a price-to-earnings ratio of -0.61 and a beta of 2.16. Editas Medicine, Inc. has a twelve month low of $0.91 and a twelve month high of $6.69.

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

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.