Citigroup Inc. Has $3.07 Million Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

Citigroup Inc. cut its stake in shares of Editas Medicine, Inc. (NASDAQ:EDITGet Rating) by 19.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 345,882 shares of the company’s stock after selling 81,816 shares during the period. Citigroup Inc.’s holdings in Editas Medicine were worth $3,068,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Covestor Ltd lifted its stake 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 worth $28,000 after buying an additional 1,454 shares during the last quarter. Quantbot Technologies LP bought a new stake in Editas Medicine during the 1st quarter worth about $44,000. Great West Life Assurance Co. Can bought a new stake in Editas Medicine during the 3rd quarter worth about $48,000. Lazard Asset Management LLC boosted its stake in shares of Editas Medicine by 10.1% in the 3rd quarter. Lazard Asset Management LLC now owns 9,552 shares of the company’s stock valued at $116,000 after purchasing an additional 873 shares during the last quarter. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of Editas Medicine in the 2nd quarter valued at approximately $123,000. 69.67% of the stock is owned by institutional investors.

Editas Medicine Stock Up 3.4 %

Shares of NASDAQ EDIT opened at $9.64 on Tuesday. Editas Medicine, Inc. has a twelve month low of $6.33 and a twelve month high of $19.97. The business has a fifty day simple moving average of $8.13 and a two-hundred day simple moving average of $9.15. The firm has a market cap of $665.16 million, a PE ratio of -3.03 and a beta of 1.86.

Editas Medicine (NASDAQ:EDITGet Rating) last announced its earnings results on Friday, May 5th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.08. Editas Medicine had a negative return on equity of 56.20% and a negative net margin of 960.70%. The firm had revenue of $9.90 million for the quarter, compared to the consensus estimate of $3.29 million. During the same period in the previous year, the business earned ($0.74) EPS. The firm’s revenue for the quarter was up 45.6% on a year-over-year basis. On average, research analysts expect that Editas Medicine, Inc. will post -3.05 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EDIT shares. Morgan Stanley reduced their price objective on shares of Editas Medicine from $8.00 to $7.00 and set an “underweight” rating for the company in a research report on Tuesday, January 24th. StockNews.com downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank of Canada reduced their price objective on shares of Editas Medicine from $14.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, February 23rd. Credit Suisse Group raised their price objective on Editas Medicine from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Finally, Cantor Fitzgerald initiated coverage on Editas Medicine in a research note on Tuesday, January 31st. They set an “overweight” rating and a $15.00 target price on the stock. Three analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.33.

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.

See Also

Want to see what other hedge funds are holding EDIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Editas Medicine, Inc. (NASDAQ:EDITGet Rating).

Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.