Ieq Capital LLC Acquires 135,736 Shares of Editas Medicine, Inc. $EDIT

Ieq Capital LLC increased its holdings in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 551.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,370 shares of the company's stock after acquiring an additional 135,736 shares during the period. Ieq Capital LLC owned about 0.19% of Editas Medicine worth $186,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Brave Asset Management Inc. grew its position in shares of Editas Medicine by 250.0% during the 1st quarter. Brave Asset Management Inc. now owns 35,000 shares of the company's stock valued at $41,000 after acquiring an additional 25,000 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Editas Medicine by 45.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company's stock worth $40,000 after buying an additional 11,252 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Editas Medicine by 144.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company's stock worth $52,000 after buying an additional 26,601 shares during the period. CWM LLC lifted its stake in Editas Medicine by 218.7% in the 1st quarter. CWM LLC now owns 47,296 shares of the company's stock worth $55,000 after purchasing an additional 32,455 shares in the last quarter. Finally, Cerity Partners LLC purchased a new stake in Editas Medicine in the 1st quarter worth approximately $57,000. 71.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EDIT has been the topic of several recent analyst reports. Robert W. Baird increased their target price on shares of Editas Medicine from $4.00 to $6.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 13th. Wells Fargo & Company raised their price target 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. HC Wainwright reissued a "buy" rating and issued a $5.00 price target on shares of Editas Medicine in a report on Friday, September 5th. 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 given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.10.

Editas Medicine Stock Up 6.4%

Editas Medicine stock traded up $0.17 during trading hours on Thursday, hitting $2.73. The stock had a trading volume of 826,415 shares, compared to its average volume of 2,787,559. The stock has a market capitalization of $245.03 million, a P/E ratio of -0.96 and a beta of 2.16. Editas Medicine, Inc. has a 12-month low of $0.91 and a 12-month high of $4.12. The stock's 50-day moving average price is $2.73 and its 200-day moving average price is $2.00.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.63) EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.81 million. On average, research analysts expect that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal 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.