UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Position in Editas Medicine, Inc. (NASDAQ:EDIT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 30.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,170,000 shares of the company's stock after purchasing an additional 272,467 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.42% of Editas Medicine worth $1,486,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Editas Medicine by 103.7% in the 4th quarter. SG Americas Securities LLC now owns 81,669 shares of the company's stock worth $104,000 after buying an additional 41,573 shares in the last quarter. Ieq Capital LLC acquired a new position in Editas Medicine during the fourth quarter worth about $31,000. Raymond James Financial Inc. purchased a new stake in shares of Editas Medicine in the fourth quarter valued at about $303,000. Monaco Asset Management SAM purchased a new stake in shares of Editas Medicine in the fourth quarter valued at about $1,359,000. Finally, Intech Investment Management LLC grew its position in shares of Editas Medicine by 43.1% in the fourth quarter. Intech Investment Management LLC now owns 40,942 shares of the company's stock valued at $52,000 after purchasing an additional 12,336 shares during the last quarter. Hedge funds and other institutional investors own 71.90% of the company's stock.

Insiders Place Their Bets

In other news, CEO Gilmore Neil O'neill sold 15,192 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was 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 in the company, valued at $482,085.04. This represents a 5.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 16,364 shares of company stock valued at $28,146 over the last quarter. Company insiders own 2.10% of the company's stock.

Editas Medicine Trading Up 6.1%

Shares of NASDAQ:EDIT opened at $1.91 on Monday. The firm has a market cap of $159.89 million, a price-to-earnings ratio of -0.75 and a beta of 2.10. The stock's 50-day moving average price is $1.46 and its two-hundred day moving average price is $1.52. Editas Medicine, Inc. has a 12-month low of $0.91 and a 12-month high of $6.22.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.08. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The business had revenue of $4.66 million for the quarter, compared to analyst estimates of $0.79 million. During the same period in the prior year, the firm posted ($76.00) EPS. As a group, research analysts forecast that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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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