Citigroup Inc. lessened its stake in Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 19.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 345,882 shares of the company’s stock after selling 81,816 shares during the quarter. Citigroup Inc. owned 0.50% of Editas Medicine worth $3,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in EDIT. Lazard Asset Management LLC raised its position in shares of Editas Medicine by 10.1% in the third quarter. Lazard Asset Management LLC now owns 9,552 shares of the company’s stock valued at $116,000 after purchasing an additional 873 shares during the period. Congress Asset Management Co. MA lifted its position in shares of Editas Medicine by 1.3% during the 3rd quarter. Congress Asset Management Co. MA now owns 80,069 shares of the company’s stock valued at $980,000 after acquiring an additional 1,004 shares during the period. Bank of New York Mellon Corp increased its stake in Editas Medicine by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 288,878 shares of the company’s stock valued at $5,494,000 after purchasing an additional 1,060 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Editas Medicine by 8.8% in the 4th quarter. ProShare Advisors LLC now owns 14,577 shares of the company’s stock worth $129,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Covestor Ltd grew its position in Editas Medicine by 9,693.3% during the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after buying an additional 1,454 shares during the period. Institutional investors and hedge funds own 69.67% of the company’s stock.
Editas Medicine Stock Performance
NASDAQ:EDIT opened at $9.64 on Tuesday. Editas Medicine, Inc. has a fifty-two week low of $6.33 and a fifty-two week high of $19.97. The stock has a market capitalization of $665.16 million, a P/E ratio of -3.03 and a beta of 1.86. The company’s 50-day simple moving average is $8.13 and its 200-day simple moving average is $9.15.
Editas Medicine (NASDAQ:EDIT – Get Rating) last released its earnings results on Friday, May 5th. The company reported ($0.71) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.08. The company had revenue of $9.90 million during the quarter, compared to analysts’ expectations of $3.29 million. Editas Medicine had a negative net margin of 960.70% and a negative return on equity of 56.20%. Editas Medicine’s revenue for the quarter was up 45.6% on a year-over-year basis. During the same period last year, the business earned ($0.74) EPS. On average, research analysts forecast that Editas Medicine, Inc. will post -3.05 EPS for the current year.
Analysts Set New Price Targets
EDIT has been the subject of a number of research reports. Chardan Capital cut their target price on shares of Editas Medicine from $35.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 23rd. Credit Suisse Group raised their price objective on shares of Editas Medicine from $13.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Cantor Fitzgerald began coverage on shares of Editas Medicine in a report on Tuesday, January 31st. They issued an “overweight” rating and a $15.00 price objective for the company. SVB Leerink raised their price objective on shares of Editas Medicine from $6.00 to $7.00 and gave the stock a “market perform” rating in a report on Monday, January 23rd. Finally, StockNews.com downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Saturday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Editas Medicine presently has an average rating of “Hold” and an average target price of $15.33.
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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