JPMorgan Chase & Co. Decreases Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

JPMorgan Chase & Co. lessened its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 3.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 771,180 shares of the company’s stock after selling 28,018 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.93% of Editas Medicine worth $2,630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EDIT. Rhumbline Advisers increased its holdings in shares of Editas Medicine by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 137,986 shares of the company’s stock valued at $644,000 after acquiring an additional 3,862 shares during the last quarter. American Century Companies Inc. boosted its holdings in Editas Medicine by 13.6% in the second quarter. American Century Companies Inc. now owns 126,240 shares of the company’s stock valued at $590,000 after purchasing an additional 15,088 shares in the last quarter. Hsbc Holdings PLC increased its stake in Editas Medicine by 148.1% in the second quarter. Hsbc Holdings PLC now owns 104,794 shares of the company’s stock valued at $488,000 after purchasing an additional 62,561 shares during the last quarter. Integral Health Asset Management LLC raised its holdings in Editas Medicine by 50.0% during the second quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after purchasing an additional 225,000 shares in the last quarter. Finally, Caxton Associates LP purchased a new stake in shares of Editas Medicine during the 2nd quarter worth approximately $600,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Editas Medicine Price Performance

EDIT opened at $1.22 on Tuesday. The stock’s 50 day simple moving average is $1.77 and its 200 day simple moving average is $3.19. The stock has a market cap of $100.71 million, a P/E ratio of -0.48 and a beta of 1.95. Editas Medicine, Inc. has a 1-year low of $1.12 and a 1-year 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 for the quarter, meeting the consensus estimate of ($0.75). The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. Editas Medicine’s revenue was down 98.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.55) earnings per share. Research analysts expect that Editas Medicine, Inc. will post -2.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on EDIT shares. Robert W. Baird dropped their target price on shares of Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research report on Friday, December 13th. Raymond James downgraded shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Bank of America cut Editas Medicine from a “buy” rating to an “underperform” rating and cut their target price for the stock from $13.00 to $1.00 in a research report on Monday, November 25th. Wells Fargo & Company cut Editas Medicine from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $7.00 to $4.00 in a research report on Wednesday, December 11th. Finally, Evercore ISI dropped their price target on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

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.