RMB Capital Management LLC purchased a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 22,566 shares of the company’s stock, valued at approximately $948,000.
Several other large investors have also modified their holdings of EDIT. 1492 Capital Management LLC acquired a new position in Editas Medicine during the fourth quarter valued at approximately $206,000. Alliancebernstein L.P. grew its holdings in Editas Medicine by 0.6% during the first quarter. Alliancebernstein L.P. now owns 82,304 shares of the company’s stock valued at $3,457,000 after purchasing an additional 504 shares during the period. Captrust Financial Advisors grew its holdings in Editas Medicine by 41.7% during the fourth quarter. Captrust Financial Advisors now owns 23,128 shares of the company’s stock valued at $1,622,000 after purchasing an additional 6,808 shares during the period. Indie Asset Partners LLC acquired a new position in Editas Medicine during the fourth quarter valued at approximately $207,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Editas Medicine by 965.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 101,424 shares of the company’s stock valued at $7,111,000 after purchasing an additional 91,908 shares during the period. Institutional investors own 77.61% of the company’s stock.
A number of brokerages have weighed in on EDIT. Truist lowered shares of Editas Medicine from a “buy” rating to a “hold” rating and set a $45.00 price target on the stock. in a research note on Friday, February 26th. Morgan Stanley cut their price target on shares of Editas Medicine from $40.00 to $37.00 and set an “underweight” rating on the stock in a research note on Monday, May 10th. The Goldman Sachs Group began coverage on shares of Editas Medicine in a research note on Friday, April 16th. They issued a “sell” rating and a $20.00 price target on the stock. Barclays reaffirmed an “equal weight” rating and issued a $46.00 price target on shares of Editas Medicine in a research note on Monday, March 8th. Finally, Credit Suisse Group began coverage on shares of Editas Medicine in a research note on Monday, March 22nd. They issued an “outperform” rating and a $58.00 price target on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $46.50.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, May 5th. The company reported ($0.86) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.10). Editas Medicine had a negative return on equity of 28.42% and a negative net margin of 147.51%. The firm had revenue of $6.50 million for the quarter, compared to the consensus estimate of $5.78 million. During the same period last year, the company posted ($0.69) earnings per share. The business’s revenue was up 13.6% compared to the same quarter last year. On average, analysts forecast that Editas Medicine, Inc. will post -3.67 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 genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis type 10, a genetic form of vision loss that leads to blindness in childhood.
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