Wealth Enhancement Advisory Services LLC Acquires 26,601 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 144.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 45,017 shares of the company’s stock after acquiring an additional 26,601 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.05% of Editas Medicine worth $52,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Dark Forest Capital Management LP lifted its position in shares of Editas Medicine by 66.9% during the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock worth $42,000 after purchasing an additional 13,138 shares during the last quarter. Brave Asset Management Inc. increased its stake in Editas Medicine by 250.0% in the 1st quarter. Brave Asset Management Inc. now owns 35,000 shares of the company’s stock worth $41,000 after buying an additional 25,000 shares during the period. Freestone Grove Partners LP bought a new stake in Editas Medicine during the 4th quarter valued at about $46,000. Intech Investment Management LLC boosted its position in Editas Medicine by 43.1% in the 4th quarter. Intech Investment Management LLC now owns 40,942 shares of the company’s stock valued at $52,000 after buying an additional 12,336 shares during the period. Finally, Virtu Financial LLC bought a new position in Editas Medicine in the 4th quarter worth about $90,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Down 0.6%

Shares of Editas Medicine stock opened at $3.06 on Friday. The company has a 50 day moving average price of $1.95 and a 200 day moving average price of $1.59. The firm has a market capitalization of $256.15 million, a P/E ratio of -1.01 and a beta of 2.15. Editas Medicine, Inc. has a 52 week low of $0.91 and a 52 week high of $6.05.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative net margin of 701.06% and a negative return on equity of 139.24%. 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 company posted ($76.00) earnings per share. As a group, research analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Transactions at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 15,192 shares of Editas Medicine stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $1.72, for a total transaction of $26,130.24. Following the completion of the sale, the chief executive officer owned 280,282 shares of the company’s stock, valued at approximately $482,085.04. The trade was a 5.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 16,364 shares of company stock valued at $28,146. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

EDIT has been the subject of several recent research reports. Cantor Fitzgerald upgraded Editas Medicine from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 29th. HC Wainwright began coverage on Editas Medicine in a research report on Monday, April 28th. They issued a “buy” rating and a $3.00 price target for the company. Robert W. Baird decreased 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, Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.70.

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.