Wellington Management Group LLP Purchases Shares of 309,395 Editas Medicine, Inc. $EDIT

Wellington Management Group LLP purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) in the 2nd quarter, HoldingsChannel reports. The fund purchased 309,395 shares of the company’s stock, valued at approximately $1,002,000.

Several other institutional investors and hedge funds also recently made changes to their positions in EDIT. BlackRock Inc. acquired a new position in shares of Editas Medicine in the second quarter worth approximately $34,312,000. ADAR1 Capital Management LLC bought a new stake in Editas Medicine in the second quarter valued at approximately $28,800,000. Renaissance Technologies LLC increased its position in Editas Medicine by 138.0% during the 4th quarter. Renaissance Technologies LLC now owns 3,039,778 shares of the company’s stock valued at $6,232,000 after purchasing an additional 1,762,378 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Editas Medicine by 122.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock valued at $3,016,000 after purchasing an additional 1,430,000 shares during the period. Finally, Seven Fleet Capital Management LP bought a new position in Editas Medicine during the 2nd quarter worth approximately $4,310,820. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Price Performance

NASDAQ EDIT opened at $2.70 on Friday. The business has a 50 day simple moving average of $2.98 and a 200 day simple moving average of $2.83. Editas Medicine, Inc. has a one year low of $1.66 and a one year high of $4.54. The stock has a market capitalization of $414.67 million, a P/E ratio of -3.60 and a beta of 2.09.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.12. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%.The business had revenue of $11.89 million during the quarter, compared to the consensus estimate of $2.85 million. Equities analysts expect that Editas Medicine, Inc. will post -0.8 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TD Cowen restated a “buy” rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Editas Medicine in a research note on Tuesday, August 18th. They set a “buy” rating and a $6.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Editas Medicine has an average rating of “Moderate Buy” and a consensus target price of $6.00.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.