238,967 Shares in Editas Medicine, Inc. (NASDAQ:EDIT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EDIT. Ieq Capital LLC acquired a new stake in Editas Medicine during the 4th quarter valued at approximately $31,000. SG Americas Securities LLC raised 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 purchasing an additional 41,573 shares during the last quarter. Thrive Wealth Management LLC acquired a new position in Editas Medicine during the fourth quarter valued at $36,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Editas Medicine by 18.1% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 267,758 shares of the company’s stock valued at $340,000 after purchasing an additional 41,002 shares during the last quarter. Finally, Green Alpha Advisors LLC grew its position in Editas Medicine by 157.6% during the 4th quarter. Green Alpha Advisors LLC now owns 111,628 shares of the company’s stock worth $142,000 after purchasing an additional 68,295 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Stock Up 17.3 %

EDIT opened at $1.15 on Thursday. Editas Medicine, Inc. has a 52 week low of $0.91 and a 52 week high of $6.80. The business has a 50 day moving average price of $1.46 and a two-hundred day moving average price of $1.99. The company has a market cap of $95.42 million, a PE ratio of -0.45 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT) last issued 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). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm had revenue of $30.60 million for the quarter, compared to analyst estimates of $37.17 million. During the same quarter last year, the firm earned ($0.23) earnings per share. As a group, sell-side analysts expect that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada dropped 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 research note on Friday, December 13th. Barclays cut their price objective on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Robert W. Baird cut their price target on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Finally, Chardan Capital reaffirmed a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. Three 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $6.83.

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.