Los Angeles Capital Management LLC Takes Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Los Angeles Capital Management LLC bought a new position in Editas Medicine, Inc. (NASDAQ:EDIT) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 147,883 shares of the company’s stock, valued at approximately $1,097,000. Los Angeles Capital Management LLC owned 0.18% of Editas Medicine at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of EDIT. Swiss National Bank boosted its position in shares of Editas Medicine by 1.1% in the 3rd quarter. Swiss National Bank now owns 179,200 shares of the company’s stock worth $1,398,000 after purchasing an additional 1,900 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Editas Medicine by 32.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 688,964 shares of the company’s stock worth $5,374,000 after acquiring an additional 170,694 shares in the last quarter. Citigroup Inc. grew its stake in shares of Editas Medicine by 13.6% in the third quarter. Citigroup Inc. now owns 212,582 shares of the company’s stock worth $1,658,000 after acquiring an additional 25,532 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Editas Medicine by 6.9% during the third quarter. Deutsche Bank AG now owns 71,962 shares of the company’s stock valued at $561,000 after acquiring an additional 4,651 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Editas Medicine by 147.2% in the 3rd quarter. Hsbc Holdings PLC now owns 31,235 shares of the company’s stock worth $240,000 after purchasing an additional 18,602 shares during the last quarter. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Trading Up 1.4 %

EDIT opened at $5.11 on Monday. The company’s 50 day moving average is $5.48 and its 200 day moving average is $7.48. The company has a market cap of $420.25 million, a price-to-earnings ratio of -2.43 and a beta of 2.06. Editas Medicine, Inc. has a 12-month low of $4.82 and a 12-month high of $11.69.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.13). Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. The business had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $11.14 million. During the same quarter in the prior year, the business earned ($0.71) EPS. The company’s revenue was down 88.9% compared to the same quarter last year. As a group, analysts predict that Editas Medicine, Inc. will post -2.7 EPS for the current fiscal year.

Insider Buying and Selling at Editas Medicine

In related news, Director Jessica Hopfield acquired 45,000 shares of the stock in a transaction dated Monday, May 13th. The shares were purchased at an average cost of $5.64 per share, with a total value of $253,800.00. Following the transaction, the director now directly owns 67,700 shares in the company, valued at $381,828. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Jessica Hopfield acquired 45,000 shares of Editas Medicine stock in a transaction dated Monday, May 13th. The stock was purchased at an average cost of $5.64 per share, with a total value of $253,800.00. Following the completion of the purchase, the director now directly owns 67,700 shares in the company, valued at approximately $381,828. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gilmore Neil O’neill sold 12,191 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $5.50, for a total transaction of $67,050.50. Following the sale, the chief executive officer now owns 315,279 shares in the company, valued at $1,734,034.50. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have issued reports on EDIT shares. StockNews.com cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. increased their target price on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. Morgan Stanley upgraded Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 price target for the company in a research note on Thursday, May 9th. Citigroup dropped their price objective on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Finally, Oppenheimer reissued a “market perform” rating and issued a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.90.

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.