BNP Paribas Financial Markets Increases Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

BNP Paribas Financial Markets boosted its stake in Editas Medicine, Inc. (NASDAQ:EDIT) by 37.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,787 shares of the company’s stock after purchasing an additional 14,888 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of Editas Medicine worth $187,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Editas Medicine by 10.5% during the 2nd quarter. International Assets Investment Management LLC now owns 31,457 shares of the company’s stock valued at $147,000 after purchasing an additional 3,000 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Editas Medicine by 10.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,599 shares of the company’s stock valued at $157,000 after buying an additional 3,089 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Editas Medicine by 2.9% during the second quarter. Rhumbline Advisers now owns 137,986 shares of the company’s stock valued at $644,000 after acquiring an additional 3,862 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Editas Medicine by 20.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 24,485 shares of the company’s stock worth $83,000 after acquiring an additional 4,089 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Editas Medicine by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock worth $54,000 after acquiring an additional 6,202 shares in the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Trading Up 2.7 %

Shares of NASDAQ EDIT opened at $1.52 on Wednesday. The company has a market cap of $125.47 million, a price-to-earnings ratio of -0.59 and a beta of 1.86. The stock’s 50 day simple moving average is $2.72 and its 200 day simple moving average is $3.87. Editas Medicine, Inc. has a 12-month low of $1.39 and a 12-month high of $11.58.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.75). The company 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 quarterly revenue was down 98.9% compared to the same quarter last year. During the same period last year, the business posted ($0.55) earnings per share. As a group, equities analysts forecast that Editas Medicine, Inc. will post -2.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on EDIT. Royal Bank of Canada lowered their price objective on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating for the company in a research note on Friday, December 13th. JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday. Wells Fargo & Company downgraded shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $7.00 to $4.00 in a research note on Wednesday, December 11th. Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Finally, Stifel Nicolaus lowered shares of Editas Medicine from a “buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $3.00 in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.00.

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.