Point72 Asia Singapore Pte. Ltd. Acquires New Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

Point72 Asia Singapore Pte. Ltd. acquired a new position in Editas Medicine, Inc. (NASDAQ:EDIT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 93,789 shares of the company’s stock, valued at approximately $320,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Signaturefd LLC increased its stake in shares of Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after buying an additional 7,758 shares during the period. Koss Olinger Consulting LLC acquired a new stake in Editas Medicine during the 2nd quarter valued at approximately $47,000. Ballentine Partners LLC bought a new position in Editas Medicine during the 3rd quarter worth approximately $36,000. Arcadia Investment Management Corp MI acquired a new position in shares of Editas Medicine in the 3rd quarter worth approximately $39,000. Finally, Hoylecohen LLC bought a new stake in shares of Editas Medicine in the 2nd quarter valued at $55,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Raymond James cut Editas Medicine from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Evercore ISI upgraded shares of Editas Medicine from an “in-line” rating to an “outperform” rating in a research note on Wednesday, November 6th. Chardan Capital reiterated a “buy” rating and set a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, November 5th. Finally, Truist Financial reduced their price target on shares of Editas Medicine from $12.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $7.92.

Editas Medicine Stock Performance

Shares of EDIT opened at $1.98 on Wednesday. Editas Medicine, Inc. has a 52 week low of $1.97 and a 52 week high of $11.69. The stock has a 50 day moving average price of $2.98 and a two-hundred day moving average price of $4.10. The firm has a market capitalization of $163.45 million, a P/E ratio of -0.77 and a beta of 1.86.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting the consensus estimate of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $0.06 million during the quarter, compared to the consensus estimate of $3.93 million. During the same quarter in the prior year, the company posted ($0.55) earnings per share. The firm’s revenue for the quarter was down 98.9% on a year-over-year basis. On average, equities analysts forecast that Editas Medicine, Inc. will post -2.63 earnings per share for the current year.

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; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.