Allspring Global Investments Holdings LLC Acquires 11,252 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 45.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,781 shares of the company’s stock after acquiring an additional 11,252 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Editas Medicine were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EDIT. Brave Asset Management Inc. raised its holdings in Editas Medicine by 250.0% in the first quarter. Brave Asset Management Inc. now owns 35,000 shares of the company’s stock worth $41,000 after purchasing an additional 25,000 shares in the last quarter. Dark Forest Capital Management LP raised its holdings in Editas Medicine by 66.9% in 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 in the last quarter. Freestone Grove Partners LP bought a new position in Editas Medicine in the fourth quarter worth $46,000. Intech Investment Management LLC raised its holdings in Editas Medicine by 43.1% in the fourth quarter. Intech Investment Management LLC now owns 40,942 shares of the company’s stock worth $52,000 after purchasing an additional 12,336 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Editas Medicine by 144.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company’s stock worth $52,000 after purchasing an additional 26,601 shares in the last quarter. Institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 27th. Robert W. Baird cut their target price on Editas Medicine from $8.00 to $4.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 13th. HC Wainwright assumed coverage on Editas Medicine in a research note on Monday, April 28th. They issued a “buy” rating and a $3.00 target price on the stock. Finally, Cantor Fitzgerald raised Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Editas Medicine has a consensus rating of “Hold” and an average target price of $4.70.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $2.88 on Friday. The stock has a market capitalization of $241.08 million, a price-to-earnings ratio of -0.95 and a beta of 2.15. The stock’s 50-day simple moving average is $1.98 and its two-hundred day simple moving average is $1.61. Editas Medicine, Inc. has a 52-week low of $0.91 and a 52-week high of $6.05.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.08. The business had revenue of $4.66 million for the quarter, compared to analysts’ expectations of $0.79 million. Editas Medicine had a negative return on equity of 139.24% and a negative net margin of 701.06%. During the same period last year, the firm posted ($76.00) earnings per share. As a group, equities analysts forecast that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Insider Activity at Editas Medicine

In related news, CEO Gilmore Neil O’neill sold 15,192 shares of Editas Medicine stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $1.72, for a total transaction of $26,130.24. Following the sale, the chief executive officer owned 280,282 shares of the company’s stock, valued at approximately $482,085.04. This trade represents a 5.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 16,364 shares of company stock valued at $28,146 over the last 90 days. 2.10% of the stock is owned by company insiders.

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.