JPMorgan Chase & Co. Has $2.85 Million Position in Editas Medicine, Inc. $EDIT

JPMorgan Chase & Co. cut its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 23.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 820,667 shares of the company’s stock after selling 245,055 shares during the period. JPMorgan Chase & Co. owned approximately 0.84% of Editas Medicine worth $2,848,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Editas Medicine by 122.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock valued at $3,016,000 after purchasing an additional 1,430,000 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Editas Medicine by 761.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 800,023 shares of the company’s stock worth $2,776,000 after purchasing an additional 707,181 shares in the last quarter. Two Sigma Investments LP lifted its stake in Editas Medicine by 63.3% in the third quarter. Two Sigma Investments LP now owns 1,584,155 shares of the company’s stock valued at $5,497,000 after buying an additional 614,229 shares during the period. Acadian Asset Management LLC lifted its stake in Editas Medicine by 288.5% in the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company’s stock valued at $869,000 after buying an additional 558,567 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in shares of Editas Medicine during the 3rd quarter worth approximately $653,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research report on Wednesday, January 21st. Chardan Capital reissued a “buy” rating and set a $3.50 target price on shares of Editas Medicine in a research note on Monday, March 9th. Robert W. Baird set a $6.00 price target on shares of Editas Medicine in a report on Monday, March 9th. JonesTrading raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Tuesday, March 10th. Finally, TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Editas Medicine currently has a consensus rating of “Moderate Buy” and a consensus price target of $5.30.

Editas Medicine Price Performance

Shares of NASDAQ:EDIT opened at $2.67 on Monday. Editas Medicine, Inc. has a twelve month low of $0.91 and a twelve month high of $4.54. The stock’s 50 day moving average is $2.14 and its 200-day moving average is $2.54. The firm has a market capitalization of $261.31 million, a price-to-earnings ratio of -1.41 and a beta of 2.04.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Monday, March 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.21. The business had revenue of $24.74 million during the quarter, compared to the consensus estimate of $8.77 million. Editas Medicine had a negative net margin of 395.02% and a negative return on equity of 389.73%. Equities research analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.