Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Wells Fargo & Company MN

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

Several other large investors also recently modified their holdings of the stock. Ieq Capital LLC bought a new stake in shares of Editas Medicine during the fourth quarter worth $31,000. Thrive Wealth Management LLC acquired a new stake in Editas Medicine in the 4th quarter valued at about $36,000. Intech Investment Management LLC increased its holdings 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 worth $52,000 after acquiring an additional 12,336 shares during the last quarter. Virtu Financial LLC acquired a new stake in Editas Medicine during the fourth quarter worth approximately $90,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Editas Medicine by 103.7% during the fourth 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. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Stock Down 4.9%

Shares of Editas Medicine stock traded down $0.07 during trading on Tuesday, reaching $1.47. The company's stock had a trading volume of 930,591 shares, compared to its average volume of 3,248,612. The company has a 50-day simple moving average of $1.36 and a two-hundred day simple moving average of $1.68. Editas Medicine, Inc. has a 1-year low of $0.91 and a 1-year high of $6.69. The company has a market cap of $122.65 million, a price-to-earnings ratio of -0.57 and a beta of 2.15.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.92) EPS for the quarter, missing analysts' consensus estimates of ($0.51) by ($0.41). 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 during the quarter, compared to analysts' expectations of $0.79 million. During the same quarter last year, the firm earned ($76.00) earnings per share. As a group, analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Robert W. Baird cut their price target on shares of Editas Medicine from $8.00 to $4.00 and set an "outperform" rating for the company in a report on Tuesday. Cantor Fitzgerald raised Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. Finally, HC Wainwright started coverage on Editas Medicine in a research report on Monday, April 28th. They set a "buy" rating and a $3.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Editas Medicine presently has an average rating of "Hold" and a consensus price target 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.