Aristides Capital LLC Acquires New Stake in Editas Medicine, Inc. (NASDAQ:EDIT)

Aristides Capital LLC acquired a new stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 131,900 shares of the company’s stock, valued at approximately $168,000. Aristides Capital LLC owned 0.16% of Editas Medicine at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of EDIT. Monaco Asset Management SAM bought a new position in shares of Editas Medicine during the 4th quarter worth $1,359,000. Raymond James Financial Inc. bought a new position in Editas Medicine during the fourth quarter worth about $303,000. Stifel Financial Corp boosted its position in Editas Medicine by 37.9% during the third quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock worth $2,131,000 after purchasing an additional 171,656 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Editas Medicine in the third quarter valued at approximately $366,000. Finally, FMR LLC lifted its stake in shares of Editas Medicine by 110.7% during the 3rd quarter. FMR LLC now owns 203,087 shares of the company’s stock valued at $693,000 after buying an additional 106,684 shares in the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on EDIT. JPMorgan Chase & Co. lowered shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Royal Bank of Canada decreased their price objective on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research note on Friday, December 13th. Robert W. Baird cut their target price on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a research note on Friday, December 13th. Stifel Nicolaus lowered Editas Medicine from a “buy” rating to a “hold” rating and reduced their target price for the company from $11.00 to $3.00 in a report on Friday, December 13th. Finally, Chardan Capital reissued a “neutral” rating on shares of Editas Medicine in a report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.83.

Editas Medicine Stock Down 2.9 %

Shares of EDIT stock opened at $1.00 on Tuesday. The firm has a market capitalization of $82.98 million, a price-to-earnings ratio of -0.39 and a beta of 2.16. The stock has a fifty day moving average of $1.48 and a 200 day moving average of $2.04. Editas Medicine, Inc. has a 52 week low of $0.91 and a 52 week high of $7.03.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.16). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $37.17 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. Equities research analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share 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.