Editas Medicine, Inc. (NASDAQ:EDIT) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. boosted its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 35.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 196,977 shares of the company’s stock after purchasing an additional 51,600 shares during the quarter. Prudential Financial Inc.’s holdings in Editas Medicine were worth $250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Editas Medicine in the 3rd quarter valued at $47,000. Verition Fund Management LLC acquired a new position in shares of Editas Medicine during the 3rd quarter worth approximately $78,000. Ieq Capital LLC acquired a new position in shares of Editas Medicine in the fourth quarter valued at approximately $31,000. Thrive Wealth Management LLC purchased a new position in shares of Editas Medicine during the 4th quarter worth about $36,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Editas Medicine by 172.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 33,203 shares of the company’s stock worth $113,000 after buying an additional 21,000 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EDIT shares. Stifel Nicolaus lowered Editas Medicine from a “buy” rating to a “hold” rating and reduced their price target for the stock from $11.00 to $3.00 in a research report on Friday, December 13th. JPMorgan Chase & Co. cut shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a report on Monday, December 16th. Evercore ISI dropped their price target on shares of 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 shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Finally, Royal Bank of Canada cut their target price on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.83.

Editas Medicine Stock Down 3.5 %

Editas Medicine stock opened at $1.11 on Friday. The company has a market capitalization of $92.10 million, a PE ratio of -0.43 and a beta of 2.16. Editas Medicine, Inc. has a 12-month low of $0.91 and a 12-month high of $6.77. The firm’s fifty day moving average is $1.46 and its 200 day moving average is $1.98.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted ($0.23) EPS. Sell-side analysts expect that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

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.