Cambridge Investment Research Advisors Inc. Cuts Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

Cambridge Investment Research Advisors Inc. lessened its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,027 shares of the company’s stock after selling 2,444 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.09% of Editas Medicine worth $568,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Covestor Ltd boosted its holdings in shares of Editas Medicine by 9,693.3% during the 1st quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after acquiring an additional 1,454 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Editas Medicine during the 1st quarter valued at about $44,000. Great West Life Assurance Co. Can purchased a new stake in shares of Editas Medicine during the 3rd quarter valued at about $48,000. Lazard Asset Management LLC boosted its holdings in shares of Editas Medicine by 10.1% during the 3rd quarter. Lazard Asset Management LLC now owns 9,552 shares of the company’s stock valued at $116,000 after acquiring an additional 873 shares during the last quarter. Finally, Cetera Advisor Networks LLC purchased a new position in shares of Editas Medicine in the second quarter worth approximately $123,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $9.45 on Thursday. The company has a market capitalization of $652.05 million, a PE ratio of -2.97 and a beta of 1.86. The company has a 50-day simple moving average of $8.19 and a two-hundred day simple moving average of $9.13. Editas Medicine, Inc. has a one year low of $6.33 and a one year high of $19.97.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on EDIT shares. Cantor Fitzgerald started coverage on shares of Editas Medicine in a report on Tuesday, January 31st. They issued an “overweight” rating and a $15.00 price objective on the stock. Chardan Capital decreased their target price on shares of Editas Medicine from $35.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 23rd. Wells Fargo & Company decreased their target price on shares of Editas Medicine from $36.00 to $30.00 in a research note on Thursday, February 23rd. Credit Suisse Group raised their target price on shares of Editas Medicine from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Finally, StockNews.com cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Saturday, May 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.86.

About Editas Medicine

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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.