Raymond James Financial Inc. Invests $303,000 in Editas Medicine, Inc. (NASDAQ:EDIT)

Raymond James Financial Inc. purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 238,967 shares of the company's stock, valued at approximately $303,000. Raymond James Financial Inc. owned about 0.29% of Editas Medicine as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Ieq Capital LLC acquired a new stake in Editas Medicine during the fourth quarter worth about $31,000. Thrive Wealth Management LLC acquired a new stake in Editas Medicine during the 4th quarter worth approximately $36,000. Intech Investment Management LLC increased its position in Editas Medicine by 43.1% during the 4th quarter. Intech Investment Management LLC now owns 40,942 shares of the company's stock worth $52,000 after purchasing an additional 12,336 shares in the last quarter. Virtu Financial LLC purchased a new position in Editas Medicine in the fourth quarter valued at approximately $90,000. Finally, SG Americas Securities LLC lifted its position in Editas Medicine by 103.7% during the fourth quarter. SG Americas Securities LLC now owns 81,669 shares of the company's stock valued at $104,000 after buying an additional 41,573 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company's stock.

Editas Medicine Stock Performance

Shares of Editas Medicine stock traded up $0.01 during trading on Thursday, hitting $1.39. 342,113 shares of the stock were exchanged, compared to its average volume of 2,571,899. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $6.69. The stock's fifty day moving average is $1.36 and its 200 day moving average is $1.68. The stock has a market cap of $115.94 million, a PE ratio of -0.54 and a beta of 2.15.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned ($76.00) EPS. Sell-side analysts anticipate that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EDIT has been the topic of a number of recent research reports. Robert W. Baird reduced their price objective on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a research note on Tuesday. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. StockNews.com raised shares of Editas Medicine from a "sell" rating to a "hold" rating in a report on Wednesday. Finally, HC Wainwright started coverage on shares of Editas Medicine in a report on Monday, April 28th. They issued a "buy" rating and a $3.00 price objective on the stock. Two investment 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 currently has an average rating of "Hold" and a consensus price target of $5.36.

Editas Medicine 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.