Short Interest in Editas Medicine, Inc. (NASDAQ:EDIT) Drops By 21.7%

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 9,090,000 shares, a decrease of 21.7% from the April 30th total of 11,610,000 shares. Based on an average daily trading volume, of 2,340,000 shares, the short-interest ratio is presently 3.9 days. Currently, 11.2% of the shares of the stock are short sold.

Editas Medicine Price Performance

NASDAQ EDIT traded up $0.05 during trading on Tuesday, reaching $1.82. 1,652,924 shares of the company's stock traded hands, compared to its average volume of 2,567,423. The firm has a market cap of $152.36 million, a price-to-earnings ratio of -0.71 and a beta of 2.15. The company's 50 day simple moving average is $1.42 and its two-hundred day simple moving average is $1.53. Editas Medicine has a 12-month low of $0.91 and a 12-month high of $6.22.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.43) EPS for the quarter, beating analysts' consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business had revenue of $4.66 million for the quarter, compared to the consensus estimate of $0.79 million. During the same quarter last year, the firm posted ($76.00) EPS. Research analysts expect that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EDIT has been the topic of a number of recent analyst reports. HC Wainwright initiated coverage on shares of Editas Medicine in a report on Monday, April 28th. They issued a "buy" rating and a $3.00 price target on the stock. Wall Street Zen raised shares of Editas Medicine from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Robert W. Baird dropped their price objective on shares of Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Editas Medicine currently has a consensus rating of "Hold" and a consensus price target of $5.36.

Institutional Trading of Editas Medicine

A number of institutional investors have recently bought and sold shares of EDIT. Renaissance Technologies LLC acquired a new stake in Editas Medicine in the 4th quarter worth approximately $1,843,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Editas Medicine by 122.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company's stock valued at $3,016,000 after acquiring an additional 1,430,000 shares during the period. Balyasny Asset Management L.P. lifted its stake in Editas Medicine by 647.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock valued at $1,652,000 after acquiring an additional 1,126,569 shares during the period. Monaco Asset Management SAM acquired a new stake in Editas Medicine during the 4th quarter valued at approximately $1,359,000. Finally, Acadian Asset Management LLC lifted its stake in Editas Medicine by 288.5% during the 1st quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock valued at $869,000 after acquiring an additional 558,567 shares during the period. 71.90% of the stock is currently owned by institutional investors and hedge funds.

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.