Cibc World Market Inc. lifted its holdings in Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 26.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,485 shares of the company’s stock after acquiring an additional 8,996 shares during the period. Cibc World Market Inc.’s holdings in Editas Medicine were worth $514,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in EDIT. SG Americas Securities LLC bought a new position in shares of Editas Medicine in the first quarter worth about $721,000. Envestnet Asset Management Inc. boosted its stake in shares of Editas Medicine by 35.6% in the first quarter. Envestnet Asset Management Inc. now owns 24,061 shares of the company’s stock worth $458,000 after acquiring an additional 6,314 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in shares of Editas Medicine by 56.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 6,778 shares of the company’s stock worth $129,000 after acquiring an additional 2,455 shares during the period. HCR Wealth Advisors boosted its stake in shares of Editas Medicine by 6.3% in the first quarter. HCR Wealth Advisors now owns 21,000 shares of the company’s stock worth $399,000 after acquiring an additional 1,250 shares during the period. Finally, RMB Capital Management LLC boosted its stake in shares of Editas Medicine by 37.0% in the first quarter. RMB Capital Management LLC now owns 84,015 shares of the company’s stock worth $1,598,000 after acquiring an additional 22,688 shares during the period. Institutional investors own 68.77% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently commented on EDIT shares. SVB Leerink dropped their price target on Editas Medicine from $14.00 to $7.00 and set a “market perform” rating for the company in a research note on Thursday, November 17th. Evercore ISI lowered their price objective on Editas Medicine to $8.00 in a research note on Monday. Oppenheimer lowered Editas Medicine from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $28.00 to $12.00 in a research note on Thursday, November 17th. Robert W. Baird lowered their price objective on Editas Medicine from $25.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, November 18th. Finally, Chardan Capital reduced their price target on Editas Medicine from $43.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, November 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.83.
Editas Medicine Stock Up 1.8 %
Editas Medicine (NASDAQ:EDIT – Get Rating) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.81) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.06. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $5.86 million. Editas Medicine had a negative return on equity of 41.33% and a negative net margin of 784.32%. Equities analysts anticipate that Editas Medicine, Inc. will post -3.23 earnings per share for the current 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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.
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