Eversept Partners LP Invests $596,000 in Editas Medicine, Inc. $EDIT

Eversept Partners LP bought a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the fourth quarter, Holdings Channel reports. The fund bought 290,919 shares of the company’s stock, valued at approximately $596,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Editas Medicine by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,397 shares of the company’s stock worth $190,000 after purchasing an additional 6,177 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Editas Medicine by 21.6% during the fourth quarter. Russell Investments Group Ltd. now owns 95,506 shares of the company’s stock valued at $196,000 after acquiring an additional 16,938 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Editas Medicine by 108.6% during the fourth quarter. Graham Capital Management L.P. now owns 139,904 shares of the company’s stock valued at $287,000 after acquiring an additional 72,820 shares during the period. Squarepoint Ops LLC lifted its position in shares of Editas Medicine by 48.0% in the 4th quarter. Squarepoint Ops LLC now owns 91,846 shares of the company’s stock valued at $188,000 after acquiring an additional 29,773 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Editas Medicine by 47.7% in the fourth quarter. Barclays PLC now owns 276,262 shares of the company’s stock valued at $566,000 after purchasing an additional 89,212 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Price Performance

Shares of Editas Medicine stock opened at $2.55 on Thursday. The firm has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $2.45. The company has a market cap of $249.67 million, a PE ratio of -2.07 and a beta of 2.16. Editas Medicine, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $4.54.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. The firm had revenue of $2.83 million for the quarter, compared to analyst estimates of $6.37 million. Editas Medicine had a negative return on equity of 677.39% and a negative net margin of 281.59%. Analysts expect that Editas Medicine, Inc. will post -1.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gilmore Neil O’neill sold 15,380 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $2.70, for a total value of $41,526.00. Following the completion of the transaction, the chief executive officer directly owned 248,313 shares of the company’s stock, valued at approximately $670,445.10. This represents a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,575 shares of company stock worth $44,753 in the last three months. 3.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EDIT shares. Robert W. Baird set a $6.00 target price on Editas Medicine in a report on Monday, March 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a research report on Monday, April 20th. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. JonesTrading raised Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Tuesday, March 10th. Finally, Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.40.

Editas Medicine Profile

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.