Millennium Management LLC Acquires 223,012 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Millennium Management LLC boosted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 10.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,459,629 shares of the company's stock after purchasing an additional 223,012 shares during the period. Millennium Management LLC owned about 2.99% of Editas Medicine worth $11,486,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its stake in shares of Editas Medicine by 10.5% in the second quarter. International Assets Investment Management LLC now owns 31,457 shares of the company's stock valued at $147,000 after acquiring an additional 3,000 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Editas Medicine by 2.9% in the second quarter. Rhumbline Advisers now owns 137,986 shares of the company's stock valued at $644,000 after acquiring an additional 3,862 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Editas Medicine by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,713 shares of the company's stock valued at $117,000 after acquiring an additional 6,263 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Editas Medicine by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company's stock valued at $369,000 after acquiring an additional 7,174 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of Editas Medicine by 147.4% in the first quarter. Russell Investments Group Ltd. now owns 12,838 shares of the company's stock valued at $95,000 after acquiring an additional 7,648 shares during the last quarter. Institutional investors own 71.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EDIT. Oppenheimer reissued a "market perform" rating and issued a $12.00 price target on shares of Editas Medicine in a report on Tuesday, June 18th. Truist Financial lowered their price target on shares of Editas Medicine from $20.00 to $12.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Barclays lowered their price target on shares of Editas Medicine from $9.00 to $7.00 and set an "equal weight" rating for the company in a report on Thursday, August 8th. Bank of America raised shares of Editas Medicine from a "neutral" rating to a "buy" rating and raised their price target for the company from $13.00 to $15.00 in a report on Thursday, August 8th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $8.00 price target on shares of Editas Medicine in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Editas Medicine presently has a consensus rating of "Hold" and an average target price of $10.22.

Insider Transactions at Editas Medicine

In other news, EVP Baisong Mei sold 6,619 shares of Editas Medicine stock in a transaction on Friday, July 19th. The shares were sold at an average price of $5.21, for a total transaction of $34,484.99. Following the transaction, the executive vice president now directly owns 134,413 shares of the company's stock, valued at $700,291.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Baisong Mei sold 6,619 shares of Editas Medicine stock in a transaction on Friday, July 19th. The shares were sold at an average price of $5.21, for a total transaction of $34,484.99. Following the transaction, the executive vice president now directly owns 134,413 shares of the company's stock, valued at $700,291.73. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Linda Burkly sold 11,886 shares of the business's stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $5.42, for a total transaction of $64,422.12. Following the completion of the sale, the executive vice president now directly owns 73,136 shares in the company, valued at $396,397.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,578 shares of company stock valued at $105,997 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Editas Medicine Stock Performance

EDIT traded down $0.04 during trading on Tuesday, reaching $3.17. 1,516,541 shares of the company's stock were exchanged, compared to its average volume of 1,905,906. The company's fifty day moving average price is $3.84 and its 200-day moving average price is $5.00. Editas Medicine, Inc. has a fifty-two week low of $3.13 and a fifty-two week high of $11.69. The firm has a market capitalization of $260.69 million, a PE ratio of -1.51 and a beta of 1.99.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.12). The firm had revenue of $0.51 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.56) earnings per share. Research analysts forecast that Editas Medicine, Inc. will post -2.97 earnings per share for the current fiscal year.

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.