International Assets Investment Management LLC Buys 265,812 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

International Assets Investment Management LLC increased its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 1,183.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 288,269 shares of the company's stock after buying an additional 265,812 shares during the quarter. International Assets Investment Management LLC owned about 0.35% of Editas Medicine worth $28,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in Editas Medicine by 9,693.3% during the first quarter. Covestor Ltd now owns 1,469 shares of the company's stock worth $28,000 after acquiring an additional 1,454 shares during the last quarter. Lazard Asset Management LLC increased its stake in Editas Medicine by 81.4% during the third quarter. Lazard Asset Management LLC now owns 4,595 shares of the company's stock worth $35,000 after acquiring an additional 2,062 shares during the last quarter. Clear Street Markets LLC acquired a new stake in Editas Medicine during the third quarter worth about $44,000. Quantbot Technologies LP acquired a new stake in Editas Medicine during the first quarter worth about $44,000. Finally, Amalgamated Bank increased its stake in Editas Medicine by 18.0% during the third quarter. Amalgamated Bank now owns 8,023 shares of the company's stock worth $63,000 after acquiring an additional 1,226 shares during the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Editas Medicine Price Performance

Shares of NASDAQ EDIT traded down $0.38 during mid-day trading on Wednesday, hitting $6.63. The company had a trading volume of 2,133,967 shares, compared to its average volume of 1,833,110. The stock has a market cap of $542.40 million, a price-to-earnings ratio of -3.22 and a beta of 2.01. Editas Medicine, Inc. has a 12 month low of $6.08 and a 12 month high of $11.91. The firm's 50 day simple moving average is $7.96 and its two-hundred day simple moving average is $8.45.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.29. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The business had revenue of $60.00 million for the quarter, compared to the consensus estimate of $4.84 million. During the same quarter last year, the business posted ($0.88) EPS. The business's revenue was up 817.4% on a year-over-year basis. Equities analysts forecast that Editas Medicine, Inc. will post -2.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on EDIT shares. JPMorgan Chase & Co. increased their target price on Editas Medicine from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Tuesday, February 27th. Truist Financial increased their target price on Editas Medicine from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, December 12th. Barclays increased their target price on Editas Medicine from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Thursday, February 29th. StockNews.com upgraded Editas Medicine from a "sell" rating to a "hold" rating in a research note on Friday, March 1st. Finally, Citigroup increased their target price on Editas Medicine from $11.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

Insider Activity at Editas Medicine

In other news, SVP Baisong Mei sold 20,327 shares of Editas Medicine stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total transaction of $191,480.34. Following the transaction, the senior vice president now directly owns 141,543 shares in the company, valued at approximately $1,333,335.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Gilmore Neil O'neill sold 77,824 shares of Editas Medicine stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the transaction, the chief executive officer now directly owns 327,470 shares in the company, valued at approximately $3,084,767.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Baisong Mei sold 20,327 shares of Editas Medicine stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

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.