Charles Schwab Investment Management Inc. Sells 9,031 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Charles Schwab Investment Management Inc. cut its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 608,249 shares of the company’s stock after selling 9,031 shares during the period. Charles Schwab Investment Management Inc. owned about 0.74% of Editas Medicine worth $772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. lifted its stake in Editas Medicine by 133.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock valued at $1,807,000 after buying an additional 302,652 shares in the last quarter. Barclays PLC raised its holdings in shares of Editas Medicine by 46.9% during the third quarter. Barclays PLC now owns 178,507 shares of the company’s stock worth $607,000 after acquiring an additional 56,986 shares during the period. BNP Paribas Financial Markets lifted its position in Editas Medicine by 37.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock valued at $187,000 after acquiring an additional 14,888 shares in the last quarter. FMR LLC boosted its stake in Editas Medicine by 110.7% in the 3rd quarter. FMR LLC now owns 203,087 shares of the company’s stock worth $693,000 after purchasing an additional 106,684 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Editas Medicine during the 3rd quarter worth about $240,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on EDIT shares. Stifel Nicolaus lowered Editas Medicine from a “buy” rating to a “hold” rating and cut their price target for the company from $11.00 to $3.00 in a report on Friday, December 13th. Evercore ISI cut their target price on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Barclays reduced their price target on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, December 13th. Royal Bank of Canada lowered their price objective on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, December 13th. Finally, Truist Financial cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.83.

Editas Medicine Price Performance

Shares of EDIT opened at $1.25 on Monday. The company’s 50-day moving average is $1.51 and its 200-day moving average is $2.16. The firm has a market capitalization of $103.72 million, a PE ratio of -0.49 and a beta of 1.88. Editas Medicine, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $7.41.

Editas Medicine (NASDAQ:EDIT) last released 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). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $30.60 million during the quarter, compared to the consensus estimate of $37.17 million. During the same period in the prior year, the company earned ($0.23) earnings per share. Analysts predict that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

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.