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

Editas Medicine, Inc. (NASDAQ:EDIT) saw a large growth in short interest in December. As of December 31st, there was short interest totalling 18,210,000 shares, a growth 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 short-interest ratio is currently 7.0 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on EDIT. Bank of America lowered Editas Medicine from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $13.00 to $1.00 in a report on Monday, November 25th. Chardan Capital reiterated a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. Royal Bank of Canada reduced their price objective on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Friday, December 13th. Barclays reduced their price objective on shares of Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, December 13th. Finally, Stifel Nicolaus lowered shares of Editas Medicine from a “buy” rating to a “hold” rating and reduced their price objective for the company from $11.00 to $3.00 in a report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $7.00.

Editas Medicine Stock Down 1.6 %

Editas Medicine stock traded down $0.02 during mid-day trading on Monday, reaching $1.22. 1,239,615 shares of the company’s stock were exchanged, compared to its average volume of 2,998,766. The company has a market cap of $100.71 million, a P/E ratio of -0.48 and a beta of 1.95. Editas Medicine has a twelve month low of $1.12 and a twelve month high of $11.58. The company has a fifty day moving average of $1.81 and a 200-day moving average of $3.21.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Monday, November 4th. The company reported ($0.75) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. During the same period in the prior year, the business earned ($0.55) EPS. The firm’s quarterly revenue was down 98.9% on a year-over-year basis. Equities research analysts expect that Editas Medicine will post -2.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of hedge funds and other institutional investors have recently modified their holdings of EDIT. Signaturefd LLC raised its holdings in shares of Editas Medicine by 494.8% in the 3rd quarter. Signaturefd LLC now owns 9,326 shares of the company’s stock valued at $32,000 after purchasing an additional 7,758 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Editas Medicine in the 3rd quarter valued at $36,000. Thrive Wealth Management LLC acquired a new stake in Editas Medicine during the 4th quarter worth $36,000. Arcadia Investment Management Corp MI acquired a new stake in Editas Medicine during the 3rd quarter worth $39,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Editas Medicine during the 3rd quarter worth $47,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

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.