E Fund Management Co. Ltd. Decreases Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

E Fund Management Co. Ltd. cut its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 24.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,134 shares of the company’s stock after selling 6,321 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Editas Medicine were worth $194,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in EDIT. Vanguard Group Inc. increased its position in Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock worth $66,582,000 after buying an additional 370,734 shares during the period. International Assets Investment Management LLC grew its stake in shares of Editas Medicine by 1,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 288,269 shares of the company’s stock worth $28,457,000 after acquiring an additional 265,812 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Editas Medicine by 32.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,964 shares of the company’s stock valued at $5,374,000 after buying an additional 170,694 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Editas Medicine in the 3rd quarter valued at $944,000. Finally, Trexquant Investment LP boosted its holdings in Editas Medicine by 135.2% during the third quarter. Trexquant Investment LP now owns 187,509 shares of the company’s stock worth $1,463,000 after buying an additional 107,776 shares during the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the transaction, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at approximately $1,333,335.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Editas Medicine news, CEO Gilmore Neil O’neill sold 77,824 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the transaction, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Baisong Mei sold 20,327 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the completion of the sale, the senior vice president now owns 141,543 shares in the company, valued at approximately $1,333,335.06. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Editas Medicine Trading Up 0.2 %

NASDAQ EDIT opened at $5.57 on Friday. Editas Medicine, Inc. has a 1-year low of $4.91 and a 1-year high of $11.91. The stock has a 50-day moving average of $6.94 and a 200-day moving average of $8.22. The firm has a market cap of $458.05 million, a PE ratio of -2.71 and a beta of 2.09.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.13). Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The company had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $11.14 million. During the same quarter in the prior year, the firm earned ($0.71) EPS. Editas Medicine’s quarterly revenue was down 88.9% compared to the same quarter last year. As a group, equities research analysts forecast that Editas Medicine, Inc. will post -2.61 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EDIT. Citigroup cut their price target on shares of Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley raised shares of Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price for the company in a report on Thursday. Barclays dropped their price objective on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday. StockNews.com cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.90.

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.