LPL Financial LLC Sells 12,293 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

LPL Financial LLC lowered its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,328 shares of the company’s stock after selling 12,293 shares during the period. LPL Financial LLC owned approximately 0.06% of Editas Medicine worth $68,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in EDIT. Monaco Asset Management SAM purchased a new position in Editas Medicine during the fourth quarter valued at $1,359,000. Raymond James Financial Inc. bought a new stake in shares of Editas Medicine in the 4th quarter worth about $303,000. Sei Investments Co. bought a new stake in shares of Editas Medicine in the 4th quarter valued at approximately $106,000. Virtu Financial LLC bought a new stake in shares of Editas Medicine in the 4th quarter worth about $90,000. Finally, Green Alpha Advisors LLC grew its stake in shares of Editas Medicine by 157.6% during the fourth quarter. Green Alpha Advisors LLC now owns 111,628 shares of the company’s stock valued at $142,000 after buying an additional 68,295 shares during the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EDIT has been the subject of a number of research reports. HC Wainwright assumed coverage on Editas Medicine in a report on Monday. They issued a “buy” rating and a $3.00 price target for the company. Cantor Fitzgerald upgraded shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $6.54.

Editas Medicine Trading Down 1.8 %

EDIT stock opened at $1.62 on Friday. The business’s 50-day moving average is $1.42 and its 200 day moving average is $1.80. Editas Medicine, Inc. has a 12-month low of $0.91 and a 12-month high of $6.69. The stock has a market cap of $135.61 million, a price-to-earnings ratio of -0.63 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT) last posted 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 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 analysts’ expectations of $37.17 million. During the same quarter last year, the company earned ($0.23) earnings per share. As a group, equities analysts forecast that Editas Medicine, Inc. will post -2.71 EPS 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.