Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Update

Editas Medicine, Inc. (NASDAQ:EDIT) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 18,210,000 shares, a growth of 7.6% from the December 15th total of 16,930,000 shares. Based on an average daily volume of 2,620,000 shares, the short-interest ratio is currently 7.0 days.

Editas Medicine Stock Performance

Shares of Editas Medicine stock traded down $0.02 during trading on Friday, reaching $1.22. The stock had a trading volume of 1,239,615 shares, compared to its average volume of 2,998,766. The stock has a fifty day moving average price of $1.81 and a two-hundred day moving average price of $3.22. Editas Medicine has a 52 week low of $1.12 and a 52 week high of $11.58.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.55) EPS. Equities analysts predict that Editas Medicine will post -2.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EDIT. The Manufacturers Life Insurance Company lifted its position in Editas Medicine by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,599 shares of the company’s stock worth $157,000 after buying an additional 3,089 shares in the last quarter. Rhumbline Advisers increased its position in shares of Editas Medicine by 2.9% in the second quarter. Rhumbline Advisers now owns 137,986 shares of the company’s stock valued at $644,000 after acquiring an additional 3,862 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Editas Medicine by 20.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,485 shares of the company’s stock worth $83,000 after acquiring an additional 4,089 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Editas Medicine by 64.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock valued at $54,000 after purchasing an additional 6,202 shares during the last quarter. Finally, Signaturefd LLC boosted its position in Editas Medicine by 494.8% during the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after purchasing an additional 7,758 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James downgraded Editas Medicine from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Wells Fargo & Company downgraded shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $7.00 to $4.00 in a research report on Wednesday, December 11th. Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a report on Monday, December 16th. Finally, Barclays decreased their price target on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.