Jennison Associates LLC Grows Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Jennison Associates LLC lifted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDITFree Report) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,520 shares of the company’s stock after purchasing an additional 24,000 shares during the quarter. Jennison Associates LLC’s holdings in Editas Medicine were worth $790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EDIT. Russell Investments Group Ltd. grew its holdings in shares of Editas Medicine by 401.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock worth $53,000 after purchasing an additional 4,156 shares during the period. HB Wealth Management LLC purchased a new position in shares of Editas Medicine during the 1st quarter worth $76,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Editas Medicine by 351.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock worth $96,000 after purchasing an additional 7,355 shares during the period. Victory Capital Management Inc. acquired a new position in Editas Medicine during the 4th quarter worth about $111,000. Finally, Public Employees Retirement System of Ohio acquired a new position in Editas Medicine during the 4th quarter worth about $137,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Editas Medicine Stock Performance

NASDAQ:EDIT opened at $4.91 on Wednesday. The stock’s 50 day moving average price is $5.30 and its 200 day moving average price is $6.99. Editas Medicine, Inc. has a 52-week low of $4.45 and a 52-week high of $11.69.

Editas Medicine (NASDAQ:EDITGet Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.13). Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. During the same quarter last year, the business posted ($0.71) earnings per share. The company’s revenue for the quarter was down 88.9% compared to the same quarter last year. As a group, equities research analysts predict that Editas Medicine, Inc. will post -2.7 EPS for the current year.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 12,191 shares of Editas Medicine stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total value of $67,050.50. Following the transaction, the chief executive officer now directly owns 315,279 shares in the company, valued at approximately $1,734,034.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gilmore Neil O’neill sold 12,191 shares of Editas Medicine stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total value of $67,050.50. Following the sale, the chief executive officer now directly owns 315,279 shares in the company, valued at $1,734,034.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jessica Hopfield purchased 45,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average price of $5.64 per share, for a total transaction of $253,800.00. Following the completion of the purchase, the director now owns 67,700 shares of the company’s stock, valued at $381,828. The disclosure for this purchase can be found here. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EDIT. Oppenheimer reissued a “market perform” rating and set a $12.00 target price on shares of Editas Medicine in a research note on Tuesday, June 18th. Citigroup decreased their target price on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Barclays decreased their target price on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Morgan Stanley raised Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price on the stock in a research note on Thursday, May 9th. Finally, Evercore ISI reduced their price target on Editas Medicine from $15.00 to $7.00 and set an “in-line” rating on the stock in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and a consensus price target of $12.90.

Get Our Latest Stock Analysis on Editas Medicine

About Editas Medicine

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding EDIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Editas Medicine, Inc. (NASDAQ:EDITFree Report).

Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.