Editas Medicine, Inc. (NASDAQ:EDIT) Position Raised by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. increased its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 647.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300,604 shares of the company's stock after purchasing an additional 1,126,569 shares during the period. Balyasny Asset Management L.P. owned 1.58% of Editas Medicine worth $1,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Editas Medicine by 162.9% during the fourth quarter. BNP Paribas Financial Markets now owns 144,060 shares of the company's stock worth $183,000 after purchasing an additional 89,273 shares in the last quarter. Ameriprise Financial Inc. grew its position in Editas Medicine by 282.7% in the fourth quarter. Ameriprise Financial Inc. now owns 227,609 shares of the company's stock worth $289,000 after buying an additional 168,134 shares during the last quarter. Freestone Grove Partners LP acquired a new position in Editas Medicine in the fourth quarter worth approximately $46,000. Susquehanna Fundamental Investments LLC acquired a new position in Editas Medicine in the fourth quarter worth approximately $346,000. Finally, Dark Forest Capital Management LP grew its position in Editas Medicine by 66.9% in the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company's stock worth $42,000 after buying an additional 13,138 shares during the last quarter. Institutional investors own 71.90% of the company's stock.

Editas Medicine Stock Up 6.2%

Shares of NASDAQ:EDIT opened at $1.54 on Tuesday. The company's fifty day moving average is $1.36 and its two-hundred day moving average is $1.68. Editas Medicine, Inc. has a 12-month low of $0.91 and a 12-month high of $6.69. The company has a market cap of $128.91 million, a P/E ratio of -0.60 and a beta of 2.15.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.41). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm had revenue of $4.66 million for the quarter, compared to analyst estimates of $0.79 million. During the same period last year, the firm earned ($76.00) earnings per share. Equities research analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on EDIT. HC Wainwright began coverage on shares of Editas Medicine in a research report on Monday, April 28th. They issued a "buy" rating and a $3.00 price target on the stock. Cantor Fitzgerald upgraded shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $5.73.

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.

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