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

Editas Medicine, Inc. (NASDAQ:EDIT) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 17,240,000 shares, a decline of 5.9% from the October 15th total of 18,330,000 shares. Based on an average daily trading volume, of 1,960,000 shares, the short-interest ratio is presently 8.8 days.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EDIT. Barclays cut their price target on shares of Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Raymond James lowered shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Wells Fargo & Company decreased their price target 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. Bank of America raised Editas Medicine from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $13.00 to $15.00 in a research report on Thursday, August 8th. Finally, Evercore ISI raised Editas Medicine from an “in-line” rating to an “outperform” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EDIT. Russell Investments Group Ltd. increased its position in shares of Editas Medicine by 147.4% during the first quarter. Russell Investments Group Ltd. now owns 12,838 shares of the company’s stock valued at $95,000 after acquiring an additional 7,648 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Editas Medicine by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock worth $63,483,000 after purchasing an additional 93,740 shares in the last quarter. Shell Asset Management Co. raised its stake in shares of Editas Medicine by 33.5% in the first quarter. Shell Asset Management Co. now owns 87,967 shares of the company’s stock worth $653,000 after purchasing an additional 22,083 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of Editas Medicine during the first quarter valued at $72,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Editas Medicine by 16.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock valued at $369,000 after buying an additional 7,174 shares during the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Stock Down 4.0 %

Editas Medicine stock opened at $2.66 on Monday. Editas Medicine has a twelve month low of $2.59 and a twelve month high of $11.69. The company has a market capitalization of $219.58 million, a P/E ratio of -1.04 and a beta of 2.01. The stock’s 50 day moving average is $3.33 and its 200 day moving average is $4.38.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, hitting analysts’ consensus estimates of ($0.75). The firm had revenue of $0.06 million for the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company’s quarterly revenue was down 98.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.55) earnings per share. As a group, equities analysts expect that Editas Medicine will post -2.73 EPS 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.