Monaco Asset Management SAM Takes $1.36 Million Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Monaco Asset Management SAM bought a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,069,732 shares of the company's stock, valued at approximately $1,359,000. Monaco Asset Management SAM owned 1.30% of Editas Medicine at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. lifted its position in shares of Editas Medicine by 133.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company's stock worth $1,807,000 after buying an additional 302,652 shares during the period. Barclays PLC increased its holdings in Editas Medicine by 46.9% during the 3rd quarter. Barclays PLC now owns 178,507 shares of the company's stock valued at $607,000 after purchasing an additional 56,986 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Editas Medicine by 37.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company's stock valued at $187,000 after purchasing an additional 14,888 shares in the last quarter. FMR LLC increased its holdings in 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 purchasing an additional 106,684 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Editas Medicine during the 3rd quarter valued at $240,000. Institutional investors own 71.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wells Fargo & Company cut Editas Medicine from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $7.00 to $4.00 in a research note on Wednesday, December 11th. Chardan Capital reissued a "neutral" rating on shares of Editas Medicine in a research note on Friday, December 13th. Barclays lowered their target price on Editas Medicine from $5.00 to $3.00 and set an "equal weight" rating for the company in a research note on Friday, December 13th. Evercore ISI lowered their target price on 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 for the company in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $6.83.

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Editas Medicine Stock Performance

EDIT traded down $0.10 on Tuesday, hitting $1.32. 1,553,242 shares of the company were exchanged, compared to its average volume of 2,536,469. Editas Medicine, Inc. has a 12 month low of $1.12 and a 12 month high of $8.44. The company has a market cap of $109.11 million, a PE ratio of -0.51 and a beta of 1.88. The stock's fifty day moving average is $1.50 and its 200-day moving average is $2.31.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its 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). The company had revenue of $30.60 million for the quarter, compared to the consensus estimate of $37.17 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same quarter in the previous year, the company posted ($0.23) EPS. As a group, equities research 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.