Renaissance Technologies LLC Purchases New Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Renaissance Technologies LLC purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,451,049 shares of the company's stock, valued at approximately $1,843,000. Renaissance Technologies LLC owned approximately 1.76% of Editas Medicine as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EDIT. Invesco Ltd. boosted its stake in shares of Editas Medicine by 9.2% during the 4th quarter. Invesco Ltd. now owns 100,164 shares of the company's stock valued at $127,000 after purchasing an additional 8,448 shares in the last quarter. Aristides Capital LLC bought a new stake in Editas Medicine during the 4th quarter valued at approximately $168,000. JPMorgan Chase & Co. boosted its position in Editas Medicine by 2.1% during the 4th quarter. JPMorgan Chase & Co. now owns 787,599 shares of the company's stock valued at $1,000,000 after acquiring an additional 16,419 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Editas Medicine by 35.5% during the 4th quarter. Prudential Financial Inc. now owns 196,977 shares of the company's stock worth $250,000 after acquiring an additional 51,600 shares during the period. Finally, Sei Investments Co. bought a new position in shares of Editas Medicine in the 4th quarter worth approximately $106,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on EDIT. HC Wainwright initiated coverage on Editas Medicine in a research note on Monday. They issued a "buy" rating and a $3.00 price target on the stock. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $6.54.

Editas Medicine Stock Down 0.3 %

NASDAQ:EDIT traded down $0.01 on Thursday, reaching $1.65. 373,927 shares of the company's stock traded hands, compared to its average volume of 2,576,505. The firm has a market cap of $137.70 million, a PE ratio of -0.64 and a beta of 2.16. The stock has a 50-day simple moving average of $1.43 and a 200-day simple moving average of $1.81. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $6.69.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.16). The business had revenue of $30.60 million during the quarter, compared to the consensus estimate of $37.17 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same quarter in the previous year, the company earned ($0.23) earnings per share. On average, equities analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current year.

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.