Allspring Global Investments Holdings LLC Sells 23,735 Shares of Editas Medicine, Inc. $EDIT

Allspring Global Investments Holdings LLC cut its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 66.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,046 shares of the company’s stock after selling 23,735 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Editas Medicine were worth $27,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Editas Medicine by 13.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 51,105 shares of the company’s stock valued at $112,000 after purchasing an additional 6,088 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Editas Medicine by 55.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 41,366 shares of the company’s stock worth $91,000 after acquiring an additional 14,765 shares during the last quarter. CWM LLC raised its position in shares of Editas Medicine by 218.7% during the first quarter. CWM LLC now owns 47,296 shares of the company’s stock worth $55,000 after acquiring an additional 32,455 shares during the last quarter. SCS Capital Management LLC bought a new position in shares of Editas Medicine during the first quarter worth about $41,000. Finally, State of Wyoming bought a new position in shares of Editas Medicine during the first quarter worth about $51,000. 71.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

EDIT has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Editas Medicine from $4.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Editas Medicine in a report on Friday. Wells Fargo & Company lifted their target price on Editas Medicine from $3.00 to $4.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Editas Medicine in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.10.

Editas Medicine Price Performance

NASDAQ:EDIT opened at $3.72 on Monday. The firm has a 50-day moving average of $3.18 and a 200-day moving average of $2.47. The company has a market cap of $334.50 million, a PE ratio of -1.31 and a beta of 2.18. Editas Medicine, Inc. has a one year low of $0.91 and a one year high of $4.54.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, August 12th. The company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.22). The business had revenue of $3.58 million for the quarter, compared to the consensus estimate of $1.81 million. Editas Medicine had a negative return on equity of 200.25% and a negative net margin of 608.88%. On average, equities research analysts expect that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

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.