Millennium Management LLC Has $3.49 Million Stock Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Millennium Management LLC lowered its holdings in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 18.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,747,082 shares of the company's stock after selling 603,774 shares during the period. Millennium Management LLC owned about 3.33% of Editas Medicine worth $3,489,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in Editas Medicine during the 4th quarter valued at approximately $1,843,000. Balyasny Asset Management L.P. lifted its stake in Editas Medicine by 647.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock valued at $1,652,000 after buying an additional 1,126,569 shares during the last quarter. Monaco Asset Management SAM acquired a new position in shares of Editas Medicine during the fourth quarter valued at $1,359,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Editas Medicine during the fourth quarter valued at $346,000. Finally, Raymond James Financial Inc. bought a new position in shares of Editas Medicine during the fourth quarter worth about $303,000. Institutional investors own 71.90% of the company's stock.

Insider Buying and Selling

In other Editas Medicine news, CEO Gilmore Neil O'neill sold 15,192 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $1.72, for a total transaction of $26,130.24. Following the completion of the sale, the chief executive officer now directly owns 280,282 shares of the company's stock, valued at approximately $482,085.04. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 16,364 shares of company stock worth $28,146 in the last three months. 2.10% of the stock is currently owned by insiders.

Editas Medicine Stock Performance

NASDAQ EDIT remained flat at $1.82 on Wednesday. 866,076 shares of the company's stock were exchanged, compared to its average volume of 2,561,089. Editas Medicine, Inc. has a 52 week low of $0.91 and a 52 week high of $6.22. The business has a fifty day moving average price of $1.43 and a 200 day moving average price of $1.54. The company has a market capitalization of $152.36 million, a PE ratio of -0.71 and a beta of 2.15.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, topping analysts' consensus estimates of ($0.51) by $0.08. The firm had revenue of $4.66 million during the quarter, compared to analysts' expectations of $0.79 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. During the same period last year, the firm posted ($76.00) earnings per share. 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

EDIT has been the subject of a number of analyst reports. HC Wainwright began coverage on shares of Editas Medicine in a research note on Monday, April 28th. They set a "buy" rating and a $3.00 target price for the company. Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a research note on Wednesday, May 14th. Robert W. Baird lowered their price target on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Finally, Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.36.

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.