Pictet Asset Management SA raised its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 37.6% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 182,186 shares of the company’s stock after purchasing an additional 49,782 shares during the period. Pictet Asset Management SA owned approximately 0.26% of Editas Medicine worth $2,230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EDIT. HCR Wealth Advisors boosted its position in shares of Editas Medicine by 4.8% during the second quarter. HCR Wealth Advisors now owns 22,000 shares of the company’s stock valued at $260,000 after buying an additional 1,000 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in shares of Editas Medicine by 1.3% in the third quarter. Congress Asset Management Co. MA now owns 80,069 shares of the company’s stock valued at $980,000 after purchasing an additional 1,004 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Editas Medicine by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 288,878 shares of the company’s stock valued at $5,494,000 after purchasing an additional 1,060 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Editas Medicine by 1.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 66,471 shares of the company’s stock worth $814,000 after purchasing an additional 1,159 shares during the last quarter. Finally, Covestor Ltd grew 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 worth $28,000 after purchasing an additional 1,454 shares in the last quarter. 69.67% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on EDIT shares. Chardan Capital cut their target price on Editas Medicine from $35.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday. Bank of America reduced their price objective on Editas Medicine from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Friday, November 18th. Oppenheimer cut Editas Medicine from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $28.00 to $12.00 in a research note on Thursday, November 17th. Wells Fargo & Company decreased their price objective on shares of Editas Medicine from $36.00 to $30.00 in a report on Thursday. Finally, Evercore ISI dropped their target price on shares of Editas Medicine to $8.00 in a research note on Monday, November 21st. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Editas Medicine has an average rating of “Hold” and an average price target of $15.33.
Editas Medicine Price Performance
Editas Medicine (NASDAQ:EDIT – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.84) by ($0.04). Editas Medicine had a negative return on equity of 50.28% and a negative net margin of 1,118.32%. The business had revenue of $6.54 million for the quarter, compared to analysts’ expectations of $3.76 million. During the same quarter in the previous year, the firm earned ($0.61) earnings per share. Editas Medicine’s quarterly revenue was down 47.6% compared to the same quarter last year. Equities research analysts expect that Editas Medicine, Inc. will post -3.03 EPS for the current fiscal year.
Insiders Place Their Bets
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 completion of the sale, the executive vice president now directly owns 65,559 shares in the company, valued at approximately $633,955.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Michelle Robertson sold 4,287 shares of Editas Medicine stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total transaction of $41,455.29. Following the sale, the chief financial officer now directly owns 76,243 shares in the company, valued at $737,269.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark S. Shearman sold 2,790 shares of the business’s 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 sale, the executive vice president now directly owns 65,559 shares in the company, valued at approximately $633,955.53. The disclosure for this sale can be found here. Insiders sold a total of 9,175 shares of company stock valued at $86,572 over the last quarter. 1.30% of the stock is owned by corporate insiders.
Editas Medicine Company Profile
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.
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