International Assets Investment Management LLC Buys 82,406 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

International Assets Investment Management LLC boosted its stake in Editas Medicine, Inc. (NASDAQ:EDIT) by 262.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,863 shares of the company’s stock after acquiring an additional 82,406 shares during the period. International Assets Investment Management LLC owned 0.14% of Editas Medicine worth $388,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its holdings in shares of Editas Medicine by 10.0% during the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after buying an additional 223,012 shares in the last quarter. Integral Health Asset Management LLC boosted its holdings in shares of Editas Medicine by 50.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock valued at $3,152,000 after buying an additional 225,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Editas Medicine by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after buying an additional 93,740 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Editas Medicine by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock valued at $369,000 after buying an additional 7,174 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Editas Medicine during the 1st quarter valued at $988,000. Institutional investors own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating on the stock in a report on Tuesday. 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. Truist Financial dropped their price target on shares of Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Evercore ISI upgraded shares of Editas Medicine from an “in-line” rating to an “outperform” rating in a research note on Wednesday. Finally, Chardan Capital reiterated a “buy” rating and issued a $12.00 price target on shares of Editas Medicine in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Editas Medicine currently has an average rating of “Hold” and an average price target of $9.08.

Editas Medicine Stock Performance

EDIT opened at $3.28 on Thursday. The stock has a market capitalization of $270.52 million, a P/E ratio of -1.28 and a beta of 2.01. The company’s 50-day simple moving average is $3.42 and its two-hundred day simple moving average is $4.50. Editas Medicine, Inc. has a 52-week low of $2.70 and a 52-week high of $11.69.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same quarter in the prior year, the firm earned ($0.55) EPS. The business’s revenue for the quarter was down 98.9% compared to the same quarter last year. Research analysts forecast that Editas Medicine, Inc. will post -2.96 EPS for the current fiscal year.

Editas Medicine 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.