Raymond James Financial Inc. Takes $303,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Raymond James Financial Inc. purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 238,967 shares of the company's stock, valued at approximately $303,000. Raymond James Financial Inc. owned 0.29% of Editas Medicine at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EDIT. Stifel Financial Corp increased its position in shares of 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 buying an additional 171,656 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Editas Medicine in the 3rd quarter valued at about $366,000. FMR LLC increased its holdings in Editas Medicine by 110.7% in the third quarter. FMR LLC now owns 203,087 shares of the company's stock worth $693,000 after purchasing an additional 106,684 shares in the last quarter. Green Alpha Advisors LLC boosted its holdings in shares of Editas Medicine by 157.6% during the 4th quarter. Green Alpha Advisors LLC now owns 111,628 shares of the company's stock worth $142,000 after buying an additional 68,295 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Editas Medicine by 46.9% in the 3rd quarter. Barclays PLC now owns 178,507 shares of the company's stock valued at $607,000 after acquiring an additional 56,986 shares in the last quarter. 71.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. lowered Editas Medicine from a "neutral" rating to an "underweight" rating in a research report on Monday, December 16th. Evercore ISI reduced their price target on shares of Editas Medicine from $7.00 to $5.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.83.

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Editas Medicine Stock Performance

NASDAQ EDIT traded up $0.11 on Tuesday, hitting $1.43. 612,652 shares of the stock traded hands, compared to its average volume of 2,575,312. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $6.69. The business's fifty day moving average is $1.46 and its two-hundred day moving average is $1.94. The firm has a market capitalization of $119.29 million, a price-to-earnings ratio of -0.56 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.55) 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 business had revenue of $30.60 million for the quarter, compared to analysts' expectations of $37.17 million. During the same period last year, the company earned ($0.23) earnings per share. Analysts expect that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

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.