Dynamic Technology Lab Private Ltd Makes New $240,000 Investment in Editas Medicine, Inc. (NASDAQ:EDIT)

Dynamic Technology Lab Private Ltd purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 70,408 shares of the company’s stock, valued at approximately $240,000. Dynamic Technology Lab Private Ltd owned 0.09% of Editas Medicine as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of EDIT. Vanguard Group Inc. lifted its holdings in Editas Medicine by 1.1% in the first quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock worth $63,483,000 after acquiring an additional 93,740 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Editas Medicine by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock worth $369,000 after purchasing an additional 7,174 shares during the last quarter. Spectrum Planning & Advisory Services Inc. acquired a new position in Editas Medicine during the 2nd quarter valued at approximately $57,000. Hoylecohen LLC bought a new position in Editas Medicine during the 2nd quarter worth $55,000. Finally, Raymond James & Associates increased its position in Editas Medicine by 49.7% in the second quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock worth $2,460,000 after buying an additional 174,993 shares during the period. Institutional investors own 71.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on EDIT shares. Wells Fargo & Company reduced their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Raymond James lowered shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Royal Bank of Canada dropped their price target on shares of 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. Bank of America downgraded Editas Medicine from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $13.00 to $1.00 in a research report on Monday, November 25th. 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.92.

Editas Medicine Stock Up 1.8 %

Shares of Editas Medicine stock opened at $2.24 on Monday. The business has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $4.15. The firm has a market cap of $184.91 million, a price-to-earnings ratio of -0.88 and a beta of 2.01. Editas Medicine, Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $11.69.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.75). The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. Editas Medicine’s revenue was down 98.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.55) EPS. Analysts anticipate that Editas Medicine, Inc. will post -2.63 earnings per share 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.