Draper Asset Management LLC Takes $209,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Draper Asset Management LLC purchased a new position in Editas Medicine, Inc. (NASDAQ:EDIT) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,692 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Editas Medicine by 8.1% in the 1st quarter. BlackRock Inc. now owns 5,737,376 shares of the company’s stock worth $240,971,000 after purchasing an additional 431,970 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Editas Medicine by 15.5% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,876,419 shares of the company’s stock worth $276,200,000 after purchasing an additional 653,617 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Editas Medicine by 14.4% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 4,869,696 shares of the company’s stock worth $285,684,000 after purchasing an additional 612,140 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Editas Medicine by 19.5% in the 1st quarter. Geode Capital Management LLC now owns 1,153,365 shares of the company’s stock worth $48,441,000 after purchasing an additional 188,192 shares during the last quarter. Finally, Morgan Stanley raised its position in shares of Editas Medicine by 15.8% in the 1st quarter. Morgan Stanley now owns 966,297 shares of the company’s stock worth $40,586,000 after purchasing an additional 131,844 shares during the last quarter. 75.81% of the stock is owned by hedge funds and other institutional investors.

In other news, CFO Michelle Robertson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 28th. The stock was sold at an average price of $50.00, for a total transaction of $125,000.00. 0.44% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on EDIT shares. Chardan Capital reissued a “buy” rating on shares of Editas Medicine in a research report on Wednesday, July 7th. Truist Financial raised Editas Medicine to a “buy” rating and set a $80.00 target price for the company in a research report on Monday, August 9th. Evercore ISI raised shares of Editas Medicine from an “underperform” rating to an “outperform” rating and upped their price target for the company from $20.00 to $60.00 in a research report on Thursday, August 5th. Oppenheimer raised shares of Editas Medicine from a “market perform” rating to an “outperform” rating and upped their price target for the company from $42.00 to $80.00 in a research report on Thursday, September 9th. Finally, Truist Securities raised shares of Editas Medicine from a “hold” rating to a “buy” rating and upped their price target for the company from $45.00 to $80.00 in a research report on Monday, August 9th. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.53.

EDIT stock traded down $0.83 during midday trading on Wednesday, hitting $59.96. The company’s stock had a trading volume of 43,397 shares, compared to its average volume of 2,008,152. Editas Medicine, Inc. has a 12 month low of $27.01 and a 12 month high of $99.95. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -23.84 and a beta of 1.95. The company has a 50 day moving average of $54.81 and a two-hundred day moving average of $44.86.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, August 4th. The company reported ($0.81) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.85) by $0.04. The business had revenue of $0.38 million during the quarter, compared to the consensus estimate of $6.78 million. Editas Medicine had a negative return on equity of 31.96% and a negative net margin of 205.41%. The firm’s revenue for the quarter was down 96.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.43) EPS. On average, analysts expect that Editas Medicine, Inc. will post -3.59 EPS for the current year.

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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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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