Tudor Investment Corp Et Al Purchases New Shares in Editas Medicine, Inc. (NASDAQ:EDIT)

Posted by Defense World Staff on Mar 11th, 2023

Tudor Investment Corp Et Al purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,646 shares of the company’s stock, valued at approximately $143,000.

Several other institutional investors have also added to or reduced their stakes in EDIT. Covestor Ltd boosted its stake 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 period. Russell Investments Group Ltd. acquired a new position in Editas Medicine in the 2nd quarter valued at $32,000. Quantbot Technologies LP acquired a new position in Editas Medicine in the 1st quarter valued at $44,000. Great West Life Assurance Co. Can acquired a new position in Editas Medicine in the 3rd quarter valued at $48,000. Finally, Federated Hermes Inc. acquired a new position in Editas Medicine in the 2nd quarter valued at $67,000. 69.67% of the stock is currently owned by institutional investors.

Editas Medicine Stock Performance

Shares of EDIT stock opened at $7.83 on Friday. The stock has a 50 day simple moving average of $9.24 and a two-hundred day simple moving average of $11.07. The company has a market cap of $540.04 million, a P/E ratio of -2.44 and a beta of 1.90. Editas Medicine, Inc. has a fifty-two week low of $7.48 and a fifty-two week high of $21.59.

Editas Medicine (NASDAQ:EDIT – Get Rating) last released its earnings results on Wednesday, February 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.76 million. During the same quarter in the previous year, the firm earned ($0.61) EPS. The firm’s revenue was down 47.6% on a year-over-year basis. On average, research analysts predict that Editas Medicine, Inc. will post -3 earnings per share for the current year.

Insider Activity at Editas Medicine

In related news, CFO Michelle Robertson sold 4,287 shares of the business’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $9.67, for a total transaction of $41,455.29. Following the transaction, the chief financial officer now owns 76,243 shares in the company, valued at approximately $737,269.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Editas Medicine news, CFO Michelle Robertson sold 4,287 shares of the company’s stock in a transaction on Monday, February 13th. The shares were sold at an average price of $9.67, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $26,979.30. Following the transaction, the executive vice president now owns 65,559 shares in the company, valued at approximately $633,955.53. The disclosure for this sale can be found here. Insiders have sold 9,460 shares of company stock worth $89,105 in the last quarter. Company insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley dropped their price objective on Editas Medicine from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, January 24th. Evercore ISI lowered their price target on Editas Medicine to $8.00 in a report on Monday, November 21st. Truist Financial lowered their price target on Editas Medicine from $80.00 to $35.00 and set a “buy” rating for the company in a report on Friday, November 18th. Citigroup initiated coverage on Editas Medicine in a report on Tuesday, December 13th. They set a “neutral” rating and a $11.00 price target for the company. Finally, Cantor Fitzgerald initiated coverage on Editas Medicine in a report on Tuesday, January 31st. They issued an “overweight” rating and a $15.00 target price for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.33.

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.