Charles Schwab Investment Management Inc. Boosts Stock Holdings in Editas Medicine, Inc. $EDIT

Charles Schwab Investment Management Inc. increased its stake in Editas Medicine, Inc. (NASDAQ:EDIT) by 12.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 684,896 shares of the company’s stock after purchasing an additional 76,647 shares during the period. Charles Schwab Investment Management Inc. owned 0.82% of Editas Medicine worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Two Sigma Investments LP increased its holdings in shares of Editas Medicine by 21.4% during the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company’s stock valued at $2,094,000 after purchasing an additional 290,483 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Editas Medicine by 282.7% during the fourth quarter. Ameriprise Financial Inc. now owns 227,609 shares of the company’s stock worth $289,000 after buying an additional 168,134 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Editas Medicine by 30.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company’s stock valued at $1,486,000 after acquiring an additional 272,467 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Editas Medicine by 144.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company’s stock valued at $52,000 after acquiring an additional 26,601 shares during the last quarter. Finally, Tang Capital Management LLC acquired a new position in shares of Editas Medicine during the 4th quarter valued at about $508,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on EDIT shares. Robert W. Baird increased their price target on shares of Editas Medicine from $4.00 to $6.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 13th. HC Wainwright increased their price target on shares of Editas Medicine from $3.00 to $5.00 and gave the company a “buy” rating in a research note on Friday, August 15th. Finally, Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.10.

Editas Medicine Price Performance

NASDAQ EDIT opened at $2.47 on Wednesday. The business’s 50-day simple moving average is $2.69 and its 200-day simple moving average is $1.98. The firm has a market capitalization of $222.10 million, a P/E ratio of -0.87 and a beta of 2.16. Editas Medicine, Inc. has a 1-year low of $0.91 and a 1-year high of $4.12.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, August 12th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.22). Editas Medicine had a negative net margin of 608.88% and a negative return on equity of 200.25%. The business had revenue of $3.58 million for the quarter, compared to analyst estimates of $1.81 million. On average, equities research analysts expect 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.