Editas Medicine, Inc. (NASDAQ:EDIT) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP grew its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,649,072 shares of the company’s stock after buying an additional 290,483 shares during the quarter. Two Sigma Investments LP owned about 2.00% of Editas Medicine worth $2,094,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Tang Capital Management LLC acquired a new stake in shares of Editas Medicine in the 4th quarter valued at approximately $508,000. Nuveen Asset Management LLC lifted its holdings in shares of Editas Medicine by 23.7% in the 4th quarter. Nuveen Asset Management LLC now owns 316,614 shares of the company’s stock valued at $402,000 after buying an additional 60,583 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Editas Medicine by 33.7% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 708,409 shares of the company’s stock valued at $900,000 after buying an additional 178,575 shares during the period. Bridgeway Capital Management LLC acquired a new stake in shares of Editas Medicine in the 4th quarter valued at approximately $190,000. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Editas Medicine by 647.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock valued at $1,652,000 after buying an additional 1,126,569 shares during the period. 71.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Wednesday, May 14th. HC Wainwright initiated coverage on Editas Medicine in a research note on Monday, April 28th. They issued a “buy” rating and a $3.00 price objective for the company. Robert W. Baird dropped their price objective on Editas Medicine from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday, May 13th. Finally, Cantor Fitzgerald raised Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Editas Medicine presently has a consensus rating of “Hold” and a consensus target price of $5.36.

Editas Medicine Stock Performance

Editas Medicine stock opened at $1.74 on Monday. The stock has a fifty day moving average of $1.40 and a two-hundred day moving average of $1.54. The company has a market capitalization of $145.24 million, a price-to-earnings ratio of -0.68 and a beta of 2.15. Editas Medicine, Inc. has a fifty-two week low of $0.91 and a fifty-two week high of $6.22.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.51) by $0.08. The company had revenue of $4.66 million during the quarter, compared to the consensus estimate of $0.79 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same quarter last year, the business posted ($76.00) earnings per share. On average, analysts forecast that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

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.