Editas Medicine, Inc. $EDIT Shares Purchased by Ieq Capital LLC

Ieq Capital LLC boosted its position in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 551.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,370 shares of the company's stock after purchasing an additional 135,736 shares during the period. Ieq Capital LLC owned about 0.19% of Editas Medicine worth $186,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of EDIT. Raymond James Financial Inc. purchased a new position in Editas Medicine in the 4th quarter valued at approximately $303,000. Ameriprise Financial Inc. increased its stake in Editas Medicine by 282.7% in the 4th quarter. Ameriprise Financial Inc. now owns 227,609 shares of the company's stock valued at $289,000 after purchasing an additional 168,134 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Editas Medicine by 162.9% in the 4th quarter. BNP Paribas Financial Markets now owns 144,060 shares of the company's stock valued at $183,000 after purchasing an additional 89,273 shares in the last quarter. Balyasny Asset Management L.P. increased its stake in Editas Medicine by 647.3% in 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 purchasing an additional 1,126,569 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in Editas Medicine in the 4th quarter valued at approximately $190,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Stock Down 0.7%

Shares of EDIT stock traded down $0.02 during mid-day trading on Friday, hitting $2.69. 1,098,728 shares of the company's stock were exchanged, compared to its average volume of 1,284,809. Editas Medicine, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $4.12. The stock has a 50-day simple moving average of $2.74 and a two-hundred day simple moving average of $2.02. The stock has a market cap of $241.88 million, a price-to-earnings ratio of -0.94 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.63) earnings per share (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 business had revenue of $3.58 million for the quarter, compared to analyst estimates of $1.81 million. As a group, analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.