Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Update

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 18,330,000 shares, an increase of 9.5% from the September 30th total of 16,740,000 shares. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is presently 9.9 days.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EDIT shares. Royal Bank of Canada reissued a "sector perform" rating and issued a $8.00 target price on shares of Editas Medicine in a report on Thursday, September 19th. Evercore ISI dropped their price objective on Editas Medicine from $7.00 to $3.00 and set an "in-line" rating for the company in a research note on Wednesday, October 23rd. Truist Financial reduced their target price on shares of Editas Medicine from $20.00 to $12.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company dropped their target price on shares of Editas Medicine from $27.00 to $9.00 and set an "overweight" rating for the company in a research report on Wednesday, October 23rd. Finally, Bank of America raised shares of Editas Medicine from a "neutral" rating to a "buy" rating and lifted their price target for the company from $13.00 to $15.00 in a report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $9.91.

Editas Medicine Trading Down 2.9 %

Shares of EDIT stock traded down $0.09 on Wednesday, reaching $3.02. The company had a trading volume of 1,692,549 shares, compared to its average volume of 1,913,538. The company has a 50-day moving average of $3.52 and a 200-day moving average of $4.60. Editas Medicine has a 12 month low of $2.91 and a 12 month high of $11.69. The stock has a market cap of $248.36 million, a PE ratio of -1.47 and a beta of 1.99.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.12). The firm had revenue of $0.51 million during the quarter, compared to analyst estimates of $4.78 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The company's revenue for the quarter was down 82.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.56) earnings per share. Sell-side analysts anticipate that Editas Medicine will post -2.98 earnings per share for the current year.

Institutional Trading of Editas Medicine

A number of large investors have recently bought and sold shares of EDIT. Vanguard Group Inc. increased its holdings in Editas Medicine by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company's stock worth $63,483,000 after purchasing an additional 93,740 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company's stock worth $11,486,000 after buying an additional 223,012 shares in the last quarter. Integral Health Asset Management LLC grew its holdings in shares of Editas Medicine by 50.0% during the second quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company's stock worth $3,152,000 after buying an additional 225,000 shares in the last quarter. Raymond James & Associates raised its position in Editas Medicine by 49.7% in the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company's stock valued at $2,460,000 after buying an additional 174,993 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Editas Medicine by 59.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company's stock valued at $2,246,000 after acquiring an additional 116,803 shares in the last quarter. 71.90% of the stock is owned by institutional investors.

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.