Crestwood Advisors Group LLC decreased its holdings in Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 6.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 18,160 shares of the company’s stock after selling 1,150 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Editas Medicine were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in EDIT. Vienna Asset Management LLC purchased a new stake in shares of Editas Medicine in the 4th quarter worth $73,000. Barclays PLC raised its stake in shares of Editas Medicine by 4.1% in the fourth quarter. Barclays PLC now owns 94,494 shares of the company’s stock worth $2,510,000 after buying an additional 3,755 shares during the period. Seven Eight Capital LP purchased a new position in shares of Editas Medicine during the 4th quarter valued at about $278,000. Stansberry Asset Management LLC increased its holdings in Editas Medicine by 150.1% in the 4th quarter. Stansberry Asset Management LLC now owns 28,085 shares of the company’s stock worth $746,000 after acquiring an additional 16,854 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Editas Medicine during the 4th quarter worth approximately $10,264,000. Institutional investors own 75.48% of the company’s stock.
In other Editas Medicine news, EVP Mark S. Shearman sold 5,145 shares of the company’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $10.06, for a total transaction of $51,758.70. Following the sale, the executive vice president now directly owns 68,349 shares in the company, valued at $687,590.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 9,350 shares of company stock valued at $110,940. 0.94% of the stock is currently owned by company insiders.
Several analysts have recently commented on the stock. StockNews.com began coverage on shares of Editas Medicine in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Chardan Capital lowered their objective price on Editas Medicine from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, February 25th. Barclays dropped their objective price on Editas Medicine from $39.00 to $18.00 in a research note on Friday, February 25th. Oppenheimer lowered their price target on Editas Medicine from $55.00 to $28.00 in a report on Thursday, May 5th. Finally, The Goldman Sachs Group cut their objective price on shares of Editas Medicine from $10.00 to $8.00 and set a “sell” rating for the company in a report on Tuesday, May 24th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $33.20.
EDIT stock opened at $12.09 on Thursday. The firm has a fifty day moving average price of $12.54 and a 200 day moving average price of $17.99. Editas Medicine, Inc. has a fifty-two week low of $9.59 and a fifty-two week high of $73.03.
Editas Medicine (NASDAQ:EDIT – Get Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.07. The business had revenue of $6.80 million during the quarter, compared to analyst estimates of $3.85 million. Editas Medicine had a negative net margin of 721.60% and a negative return on equity of 32.88%. Editas Medicine’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.86) earnings per share. Analysts predict that Editas Medicine, Inc. will post -3.41 earnings per share for the current year.
About Editas Medicine (Get Rating)
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 clinical trial for Leber Congenital Amaurosis 10 that leads to inherited childhood blindness.
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