Renaissance Technologies LLC Invests $1.84 Million in Editas Medicine, Inc. (NASDAQ:EDIT)

Renaissance Technologies LLC acquired a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,451,049 shares of the company's stock, valued at approximately $1,843,000. Renaissance Technologies LLC owned about 1.76% of Editas Medicine at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Editas Medicine in the fourth quarter worth $303,000. Barclays PLC raised its holdings in shares of Editas Medicine by 46.9% in the 3rd quarter. Barclays PLC now owns 178,507 shares of the company's stock worth $607,000 after purchasing an additional 56,986 shares during the period. Monaco Asset Management SAM acquired a new stake in Editas Medicine in the 4th quarter valued at $1,359,000. SG Americas Securities LLC grew its position in Editas Medicine by 103.7% in the fourth quarter. SG Americas Securities LLC now owns 81,669 shares of the company's stock valued at $104,000 after acquiring an additional 41,573 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in shares of Editas Medicine in the fourth quarter worth about $106,000. Institutional investors and hedge funds own 71.90% of the company's stock.

Analyst Upgrades and Downgrades

Separately, HC Wainwright began coverage on Editas Medicine in a research report on Monday. They set a "buy" rating and a $3.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $6.54.

Editas Medicine Stock Down 1.9 %

Editas Medicine stock traded down $0.03 during trading on Tuesday, hitting $1.55. The stock had a trading volume of 1,081,367 shares, compared to its average volume of 2,579,787. The stock has a market cap of $129.75 million, a price-to-earnings ratio of -0.61 and a beta of 2.16. Editas Medicine, Inc. has a 1 year low of $0.91 and a 1 year high of $6.69. The stock's 50 day moving average is $1.44 and its two-hundred day moving average is $1.81.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share 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 during the quarter, compared to analysts' expectations of $37.17 million. During the same period in the previous year, the business earned ($0.23) EPS. As a group, equities research analysts anticipate 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.