Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 617,280 shares of the company’s stock after selling 116,105 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.75% of Editas Medicine worth $2,105,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of Editas Medicine by 494.8% during the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after buying an additional 7,758 shares during the period. Ballentine Partners LLC purchased a new position in shares of Editas Medicine during the third quarter worth $36,000. Arcadia Investment Management Corp MI purchased a new position in shares of Editas Medicine during the third quarter worth $39,000. Koss Olinger Consulting LLC purchased a new position in shares of Editas Medicine during the second quarter worth $47,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Editas Medicine by 64.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock worth $54,000 after buying an additional 6,202 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on EDIT shares. Chardan Capital restated a “neutral” rating on shares of Editas Medicine in a research report on Friday. Truist Financial lowered Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday. Raymond James lowered Editas Medicine from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Barclays decreased their target price on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Evercore ISI upgraded Editas Medicine from an “in-line” rating to an “outperform” rating in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.85.

Editas Medicine Stock Down 23.8 %

Shares of EDIT stock opened at $1.44 on Monday. The stock has a market capitalization of $118.87 million, a PE ratio of -0.56 and a beta of 1.86. Editas Medicine, Inc. has a 52-week low of $1.41 and a 52-week high of $11.58. The stock’s 50-day moving average price is $2.76 and its 200 day moving average price is $3.89.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.75). The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm’s revenue for the quarter was down 98.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) EPS. Analysts expect that Editas Medicine, Inc. will post -2.59 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.