Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD cut its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 32.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 43,777 shares of the company’s stock after selling 21,041 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Editas Medicine were worth $56,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in EDIT. Renaissance Technologies LLC acquired a new stake in shares of Editas Medicine during the fourth quarter valued at about $1,843,000. Monaco Asset Management SAM acquired a new stake in shares of Editas Medicine during the fourth quarter valued at about $1,359,000. Raymond James Financial Inc. acquired a new stake in shares of Editas Medicine during the fourth quarter valued at about $303,000. Aristides Capital LLC acquired a new stake in shares of Editas Medicine during the fourth quarter valued at about $168,000. Finally, Sei Investments Co. acquired a new stake in shares of Editas Medicine during the fourth quarter valued at about $106,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EDIT. StockNews.com upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Wednesday, May 14th. HC Wainwright assumed coverage on shares of Editas Medicine in a research note on Monday, April 28th. They issued a “buy” rating and a $3.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Editas Medicine from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald upgraded shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.36.

Editas Medicine Price Performance

Shares of Editas Medicine stock opened at $1.51 on Monday. The firm’s fifty day simple moving average is $1.35 and its 200-day simple moving average is $1.64. The stock has a market capitalization of $126.41 million, a price-to-earnings ratio of -0.59 and a beta of 2.15. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $6.22.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.08. The company had revenue of $4.66 million for the quarter, compared to analysts’ expectations of $0.79 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 previous year, the company posted ($76.00) EPS. Analysts anticipate 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.