Wells Fargo & Company MN Trims Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

Wells Fargo & Company MN lowered its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 63.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 186,329 shares of the company's stock after selling 318,436 shares during the period. Wells Fargo & Company MN owned 0.23% of Editas Medicine worth $237,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EDIT. Ieq Capital LLC purchased a new stake in shares of Editas Medicine in the fourth quarter worth $31,000. Thrive Wealth Management LLC purchased a new stake in shares of Editas Medicine in the 4th quarter valued at about $36,000. Intech Investment Management LLC boosted its position in shares of Editas Medicine by 43.1% during the 4th quarter. Intech Investment Management LLC now owns 40,942 shares of the company's stock valued at $52,000 after acquiring an additional 12,336 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Editas Medicine during the fourth quarter worth about $90,000. Finally, SG Americas Securities LLC increased its position in shares of Editas Medicine by 103.7% in the fourth quarter. SG Americas Securities LLC now owns 81,669 shares of the company's stock worth $104,000 after purchasing an additional 41,573 shares during the last quarter. 71.90% of the stock is owned by institutional investors.

Editas Medicine Trading Up 4.3 %

Shares of NASDAQ:EDIT traded up $0.06 during trading on Friday, reaching $1.45. 2,653,731 shares of the company traded hands, compared to its average volume of 2,569,489. Editas Medicine, Inc. has a 52-week low of $0.91 and a 52-week high of $6.69. The firm has a market capitalization of $121.38 million, a price-to-earnings ratio of -0.57 and a beta of 2.15. The business's fifty day moving average is $1.37 and its 200-day moving average is $1.72.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.16). The firm 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 period last year, the business earned ($0.23) EPS. On average, sell-side analysts predict that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on EDIT shares. Cantor Fitzgerald raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 29th. HC Wainwright assumed coverage on Editas Medicine in a research note on Monday, April 28th. They issued a "buy" rating and a $3.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eight have issued 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 company has a consensus rating of "Hold" and an average price target of $5.73.

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.