Creative Planning Has $74,000 Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

Creative Planning lifted its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 113.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,563 shares of the company’s stock after buying an additional 11,473 shares during the quarter. Creative Planning’s holdings in Editas Medicine were worth $74,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Headlands Technologies LLC raised its position in shares of Editas Medicine by 481.7% in the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after acquiring an additional 7,861 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Editas Medicine in the first quarter worth approximately $72,000. Koss Olinger Consulting LLC acquired a new position in Editas Medicine in the second quarter valued at approximately $47,000. Hoylecohen LLC acquired a new stake in shares of Editas Medicine during the 2nd quarter worth approximately $55,000. Finally, Spectrum Planning & Advisory Services Inc. bought a new stake in shares of Editas Medicine in the 2nd quarter valued at $57,000. Institutional investors own 71.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on EDIT shares. Chardan Capital reissued a “buy” rating and set a $12.00 target price on shares of Editas Medicine in a research note on Tuesday, November 5th. Wells Fargo & Company reduced their target price on Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Royal Bank of Canada dropped their price target on Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 5th. Truist Financial cut their price target on Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Barclays lowered their target price on Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Editas Medicine has an average rating of “Hold” and a consensus price target of $9.08.

Editas Medicine Price Performance

EDIT opened at $3.07 on Wednesday. The firm’s fifty day moving average price is $3.38 and its two-hundred day moving average price is $4.45. The company has a market capitalization of $253.43 million, a price-to-earnings ratio of -1.22 and a beta of 2.01. Editas Medicine, Inc. has a 1 year low of $2.70 and a 1 year high of $11.69.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). The business had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The firm’s revenue for the quarter was down 98.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.55) earnings per share. As a group, equities analysts anticipate that Editas Medicine, Inc. will post -2.88 EPS for the current 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.