GSA Capital Partners LLP Grows Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

GSA Capital Partners LLP boosted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 89.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,725 shares of the company’s stock after purchasing an additional 86,020 shares during the period. GSA Capital Partners LLP owned about 0.22% of Editas Medicine worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of Editas Medicine in the third quarter worth about $39,000. China Universal Asset Management Co. Ltd. lifted its holdings in Editas Medicine by 64.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 15,863 shares of the company’s stock valued at $54,000 after acquiring an additional 6,202 shares during the period. Ballentine Partners LLC acquired a new position in Editas Medicine in the third quarter valued at approximately $36,000. Hennion & Walsh Asset Management Inc. boosted its position in Editas Medicine by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 226,756 shares of the company’s stock worth $773,000 after purchasing an additional 58,385 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Editas Medicine by 262.0% during the 3rd quarter. International Assets Investment Management LLC now owns 113,863 shares of the company’s stock worth $388,000 after purchasing an additional 82,406 shares during the period. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $2.52 on Tuesday. Editas Medicine, Inc. has a one year low of $2.51 and a one year high of $11.69. The company has a market cap of $208.02 million, a price-to-earnings ratio of -1.09 and a beta of 2.01. The business’s 50 day moving average price is $3.33 and its 200 day moving average price is $4.38.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting analysts’ consensus estimates of ($0.75). The company had revenue of $0.06 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 98.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.55) earnings per share. On average, analysts predict that Editas Medicine, Inc. will post -2.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on EDIT shares. Chardan Capital reiterated a “buy” rating and issued a $12.00 target price on shares of Editas Medicine in a research note on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on shares of Editas Medicine from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Raymond James cut Editas Medicine from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Truist Financial decreased their target price on Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Bank of America upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $13.00 to $15.00 in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Editas Medicine presently has an average rating of “Hold” and a consensus price target of $9.08.

About Editas Medicine

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.