Editas Medicine, Inc. $EDIT Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly reduced its stake in Editas Medicine, (by 68.2%) during the first quarter, now holding 567,504 shares, valued at approximately $658,000.
• Editas Medicine reported a quarterly loss of ($0.63) EPS, missing analysts' estimates, despite achieving revenue of $3.58 million which exceeded expectations.
• Wall Street analysts have varied opinions on Editas Medicine's stock, with price targets ranging from $3.00 to $6.00 and a consensus rating of "Hold."

Goldman Sachs Group Inc. lowered its stake in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 68.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 567,504 shares of the company's stock after selling 1,218,701 shares during the quarter. Goldman Sachs Group Inc. owned about 0.68% of Editas Medicine worth $658,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nuveen LLC acquired a new stake in Editas Medicine in the first quarter worth about $367,000. Two Sigma Investments LP lifted its holdings in Editas Medicine by 21.4% in the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company's stock valued at $2,094,000 after acquiring an additional 290,483 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings 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 acquiring an additional 168,134 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Editas Medicine by 30.4% in the 4th 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 last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted 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 valued at $52,000 after acquiring an additional 26,601 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Trading Up 12.0%

NASDAQ EDIT opened at $3.37 on Thursday. The stock's 50-day moving average price is $2.75 and its two-hundred day moving average price is $2.08. The company has a market cap of $303.03 million, a PE ratio of -1.18 and a beta of 2.16. Editas Medicine, Inc. has a 1 year low of $0.91 and a 1 year high of $3.80.

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). The company had revenue of $3.58 million for the quarter, compared to analyst estimates of $1.81 million. Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%. Research analysts forecast that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price target on shares of Editas Medicine from $3.00 to $4.00 and gave the company 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. Wall Street Zen downgraded shares of Editas Medicine from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Finally, Robert W. Baird upped their price target on shares of Editas Medicine from $4.00 to $6.00 and gave the company an "outperform" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Editas Medicine has a consensus rating of "Hold" and an average price target 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.

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