Nuveen LLC Makes New Investment in Editas Medicine, Inc. $EDIT

Key Points

• Nuveen LLC has acquired 316,614 shares of Editas Medicine, Inc., valued at approximately $367,000, bringing its total ownership to around 0.38% of the company.
• Several institutional investors have increased their stakes in Editas, with notable increases including a 647.3% rise by Balyasny Asset Management in the fourth quarter.
• Analysts have set new target prices for Editas Medicine, with Wells Fargo raising their target from $3.00 to $4.00, while Robert W. Baird increased theirs to $6.00.

Nuveen LLC purchased a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 316,614 shares of the company's stock, valued at approximately $367,000. Nuveen LLC owned approximately 0.38% of Editas Medicine at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Two Sigma Investments LP boosted its stake in Editas Medicine by 21.4% during the fourth quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company's stock worth $2,094,000 after buying an additional 290,483 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Editas Medicine by 282.7% during the fourth quarter. Ameriprise Financial Inc. now owns 227,609 shares of the company's stock valued at $289,000 after acquiring an additional 168,134 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Editas Medicine by 30.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company's stock valued at $1,486,000 after acquiring an additional 272,467 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Editas Medicine by 144.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company's stock valued at $52,000 after acquiring an additional 26,601 shares during the period. Finally, Tang Capital Management LLC bought a new position in shares of Editas Medicine during the fourth quarter valued at $508,000. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Trading Up 5.9%

Shares of Editas Medicine stock traded up $0.15 during trading on Thursday, reaching $2.71. The company's stock had a trading volume of 1,228,968 shares, compared to its average volume of 1,336,955. The stock has a 50-day moving average price of $2.74 and a two-hundred day moving average price of $2.01. Editas Medicine, Inc. has a one year low of $0.91 and a one year high of $4.12. The stock has a market capitalization of $243.68 million, a P/E ratio of -0.95 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.22). Editas Medicine had a negative net margin of 608.88% and a negative return on equity of 200.25%. The business had revenue of $3.58 million during the quarter, compared to the consensus estimate of $1.81 million. As a group, sell-side analysts anticipate that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. HC Wainwright reissued a "buy" rating and set a $5.00 price objective on shares of Editas Medicine in a report on Friday, September 5th. Wells Fargo & Company raised their price objective on shares of Editas Medicine from $3.00 to $4.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 3rd. Robert W. Baird raised their price objective on shares of Editas Medicine from $4.00 to $6.00 and gave the stock an "outperform" rating in a report on Wednesday, August 13th. Finally, Wall Street Zen lowered shares of Editas Medicine from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Editas Medicine has a consensus rating of "Hold" and a consensus target price of $5.10.

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.