International Assets Investment Management LLC Trims Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

International Assets Investment Management LLC decreased its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 72.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 31,157 shares of the company’s stock after selling 82,706 shares during the period. International Assets Investment Management LLC’s holdings in Editas Medicine were worth $41,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after acquiring an additional 223,012 shares during the last quarter. Integral Health Asset Management LLC lifted its holdings in Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock valued at $3,152,000 after purchasing an additional 225,000 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Editas Medicine by 37.9% during the 3rd quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock worth $2,131,000 after purchasing an additional 171,656 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Editas Medicine by 133.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after buying an additional 302,652 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Editas Medicine by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 296,154 shares of the company’s stock worth $1,383,000 after buying an additional 11,332 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EDIT shares. Robert W. Baird decreased 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. JPMorgan Chase & Co. cut Editas Medicine from a “neutral” rating to an “underweight” rating in a report on Monday, December 16th. Raymond James lowered Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Royal Bank of Canada reduced their target price on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, December 13th. Finally, Bank of America cut Editas Medicine from a “buy” rating to an “underperform” rating and lowered their price target for the company from $13.00 to $1.00 in a report on Monday, November 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $7.00.

Editas Medicine Stock Performance

Shares of EDIT opened at $1.14 on Wednesday. Editas Medicine, Inc. has a 52 week low of $1.12 and a 52 week high of $11.58. The company has a market capitalization of $94.10 million, a PE ratio of -0.45 and a beta of 1.95. The company’s 50 day moving average price is $1.93 and its 200 day moving average price is $3.29.

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 firm had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company’s revenue was down 98.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.55) earnings per share. On average, equities analysts forecast that Editas Medicine, Inc. will post -2.62 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.