316,614 Shares in Editas Medicine, Inc. $EDIT Acquired by Nuveen LLC

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 acquired 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 & Exchange Commission. The firm acquired 316,614 shares of the company's stock, valued at approximately $367,000. Nuveen LLC owned approximately 0.38% of Editas Medicine as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP lifted its position in Editas Medicine by 46.8% during the fourth quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company's stock worth $2,104,000 after buying an additional 528,000 shares in the last quarter. Two Sigma Investments LP lifted its position 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. Balyasny Asset Management L.P. lifted its position in Editas Medicine by 647.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock worth $1,652,000 after buying an additional 1,126,569 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Editas Medicine by 30.4% in 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 purchasing an additional 272,467 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its position in Editas Medicine by 33.7% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 708,409 shares of the company's stock valued at $900,000 after purchasing an additional 178,575 shares during the period. Hedge funds and other institutional investors own 71.90% of the company's stock.

Analysts Set New Price Targets

EDIT has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Editas Medicine from $3.00 to $4.00 and gave the company an "equal weight" rating in a research report on Wednesday. HC Wainwright restated a "buy" rating and issued a $5.00 target price on shares of Editas Medicine in a research report on Friday. Robert W. Baird lifted their target price on Editas Medicine from $4.00 to $6.00 and gave the company an "outperform" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen downgraded Editas Medicine from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.10.

Editas Medicine Trading Up 9.5%

Shares of NASDAQ EDIT opened at $2.76 on Friday. Editas Medicine, Inc. has a twelve month low of $0.91 and a twelve month high of $4.12. The stock has a fifty day simple moving average of $2.71 and a 200-day simple moving average of $2.00. The stock has a market capitalization of $248.18 million, a PE ratio of -0.97 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.22). Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%.The company had revenue of $3.58 million for the quarter, compared to analyst estimates of $1.81 million. On average, equities analysts predict 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.