Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Update

Editas Medicine, Inc. (NASDAQ:EDIT) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 18,210,000 shares, an increase of 7.6% from the December 15th total of 16,930,000 shares. Based on an average daily volume of 2,620,000 shares, the days-to-cover ratio is presently 7.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC grew its position in Editas Medicine by 494.8% in the third quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock worth $32,000 after acquiring an additional 7,758 shares in the last quarter. Ballentine Partners LLC purchased a new position in Editas Medicine in the third quarter worth about $36,000. Arcadia Investment Management Corp MI purchased a new position in Editas Medicine in the third quarter worth about $39,000. Y Intercept Hong Kong Ltd purchased a new position in Editas Medicine in the third quarter worth about $47,000. Finally, Erste Asset Management GmbH purchased a new position in Editas Medicine in the third quarter worth about $52,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Chardan Capital reaffirmed a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. JPMorgan Chase & Co. cut Editas Medicine from a “neutral” rating to an “underweight” rating in a report on Monday, December 16th. Raymond James cut Editas Medicine from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Truist Financial lowered Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Finally, Evercore ISI cut their price target on Editas Medicine from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $7.00.

Editas Medicine Stock Down 1.6 %

Shares of Editas Medicine stock opened at $1.22 on Tuesday. The firm has a market cap of $100.71 million, a price-to-earnings ratio of -0.48 and a beta of 1.95. The business has a 50-day moving average price of $1.77 and a 200-day moving average price of $3.19. Editas Medicine has a twelve month low of $1.12 and a twelve month high of $11.58.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.75). The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.55) earnings per share. On average, equities analysts expect that Editas Medicine will post -2.64 EPS for the current fiscal year.

About Editas Medicine

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.