ExodusPoint Capital Management LP Trims Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

ExodusPoint Capital Management LP lowered its position in Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 47.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,521 shares of the company’s stock after selling 41,908 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Editas Medicine were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Editas Medicine by 9,693.3% in the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after purchasing an additional 1,454 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Editas Medicine in the second quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in shares of Editas Medicine in the first quarter valued at approximately $44,000. Great West Life Assurance Co. Can acquired a new position in shares of Editas Medicine in the third quarter valued at approximately $48,000. Finally, Federated Hermes Inc. acquired a new position in shares of Editas Medicine in the second quarter valued at approximately $67,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Insider Activity

In other news, EVP Mark S. Shearman sold 2,790 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $26,979.30. Following the sale, the executive vice president now directly owns 65,559 shares in the company, valued at $633,955.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Mark S. Shearman sold 2,790 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $9.67, for a total transaction of $26,979.30. Following the transaction, the executive vice president now directly owns 65,559 shares in the company, valued at $633,955.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michelle Robertson sold 4,287 shares of the stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $41,455.29. Following the transaction, the chief financial officer now owns 76,243 shares in the company, valued at $737,269.81. The disclosure for this sale can be found here. Insiders have sold 9,175 shares of company stock worth $86,572 over the last three months. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on EDIT shares. Wells Fargo & Company dropped their target price on Editas Medicine from $36.00 to $30.00 in a report on Thursday, February 23rd. Evercore ISI dropped their price objective on Editas Medicine to $8.00 in a report on Monday, November 21st. Truist Financial dropped their price objective on Editas Medicine from $80.00 to $35.00 and set a “buy” rating on the stock in a report on Friday, November 18th. Chardan Capital dropped their price objective on Editas Medicine from $35.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 23rd. Finally, Morgan Stanley dropped their price objective on Editas Medicine from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, January 24th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Editas Medicine currently has an average rating of “Hold” and an average price target of $15.33.

Editas Medicine Stock Performance

EDIT opened at $9.04 on Tuesday. The business’s fifty day moving average is $9.28 and its two-hundred day moving average is $11.57. The company has a market cap of $623.49 million, a price-to-earnings ratio of -2.82 and a beta of 1.87. Editas Medicine, Inc. has a one year low of $7.70 and a one year high of $21.59.

Editas Medicine (NASDAQ:EDIT – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.84) by ($0.04). Editas Medicine had a negative net margin of 1,118.32% and a negative return on equity of 50.28%. The company had revenue of $6.54 million during the quarter, compared to analysts’ expectations of $3.76 million. During the same quarter in the prior year, the company earned ($0.61) earnings per share. The firm’s revenue was down 47.6% compared to the same quarter last year. On average, analysts predict that Editas Medicine, Inc. will post -3.03 EPS for the current fiscal year.

Editas Medicine Profile

(Get Rating)

Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.