Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Up 7.6% in January

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 18,210,000 shares, a growth of 7.6% from the December 31st total of 16,930,000 shares. Based on an average daily trading volume, of 2,620,000 shares, the short-interest ratio is currently 7.0 days.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EDIT shares. Truist Financial cut shares of Editas Medicine from a "buy" rating to a "hold" rating in a research report on Friday, December 13th. Wells Fargo & Company lowered shares of Editas Medicine from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $7.00 to $4.00 in a research report on Wednesday, December 11th. Royal Bank of Canada decreased their target price on shares of Editas Medicine from $5.00 to $4.00 and set a "sector perform" rating for the company in a research report on Friday, December 13th. Evercore ISI reduced their price objective on shares of Editas Medicine from $7.00 to $5.00 and set an "outperform" rating for the company in a research note on Monday, December 16th. Finally, Robert W. Baird lowered their target price on Editas Medicine from $10.00 to $8.00 and set an "outperform" rating on the stock in a research report on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Editas Medicine has a consensus rating of "Hold" and an average price target of $7.00.

Editas Medicine Price Performance

NASDAQ:EDIT traded down $0.05 during mid-day trading on Friday, reaching $1.26. The stock had a trading volume of 1,274,991 shares, compared to its average volume of 2,227,435. Editas Medicine has a 12 month low of $1.12 and a 12 month high of $11.58. The stock has a market capitalization of $103.60 million, a PE ratio of -0.49 and a beta of 1.94. The stock has a 50-day simple moving average of $1.46 and a two-hundred day simple moving average of $2.86.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.75) EPS for the quarter, meeting analysts' consensus estimates of ($0.75). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company had revenue of $0.06 million during the quarter, compared to analysts' expectations of $3.93 million. During the same period in the prior year, the company earned ($0.55) EPS. Editas Medicine's revenue was down 98.9% compared to the same quarter last year. Equities analysts expect that Editas Medicine will post -2.71 EPS for the current year.

Institutional Trading of Editas Medicine

A number of institutional investors have recently bought and sold shares of EDIT. The Manufacturers Life Insurance Company grew its holdings in Editas Medicine by 10.1% in the second quarter. The Manufacturers Life Insurance Company now owns 33,599 shares of the company's stock worth $157,000 after purchasing an additional 3,089 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Editas Medicine by 20.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 24,485 shares of the company's stock worth $83,000 after buying an additional 4,089 shares during the period. China Universal Asset Management Co. Ltd. boosted 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 worth $54,000 after acquiring an additional 6,202 shares in the last quarter. Signaturefd LLC grew its position in 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 during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of Editas Medicine in the 3rd quarter worth about $36,000. Institutional investors own 71.90% of the company's stock.

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.