Assenagon Asset Management S.A. bought a new position in Editas Medicine, Inc. (NASDAQ:EDIT – Free Report) in the third quarter, Holdings Channel reports. The institutional investor bought 36,904 shares of the company’s stock, valued at approximately $288,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Covestor Ltd raised its position in Editas Medicine by 9,693.3% in the 1st 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 last quarter. Quantbot Technologies LP purchased a new stake in shares of Editas Medicine during the first quarter valued at approximately $44,000. Headlands Technologies LLC acquired a new stake in shares of Editas Medicine during the second quarter worth approximately $47,000. Daiwa Securities Group Inc. boosted its holdings in Editas Medicine by 2,904.3% in the second quarter. Daiwa Securities Group Inc. now owns 8,322 shares of the company’s stock worth $68,000 after purchasing an additional 8,045 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Editas Medicine by 126.8% during the first quarter. Great West Life Assurance Co. Can now owns 9,592 shares of the company’s stock valued at $69,000 after acquiring an additional 5,363 shares during the period. 76.61% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on EDIT. JPMorgan Chase & Co. raised Editas Medicine from an “underweight” rating to a “neutral” rating and set a $8.00 price target on the stock in a research note on Wednesday, October 18th. Truist Financial upped their price target on Editas Medicine from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. StockNews.com lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Cantor Fitzgerald lowered Editas Medicine from an “overweight” rating to a “neutral” rating in a research report on Tuesday, October 17th. Finally, Citigroup raised Editas Medicine from a “neutral” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.73.
Editas Medicine Stock Performance
Shares of EDIT opened at $7.11 on Thursday. The company’s fifty day moving average is $9.35 and its 200 day moving average is $8.65. The stock has a market capitalization of $580.67 million, a PE ratio of -2.63 and a beta of 1.96. Editas Medicine, Inc. has a fifty-two week low of $6.08 and a fifty-two week high of $11.91.
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 BRILLIANCE trial for Leber Congenital Amaurosis 10; autosomal dominant retinitis pigmentosa; and EDIT-301, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.
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