Walleye Capital LLC Takes Position in Editas Medicine, Inc. $EDIT

Walleye Capital LLC bought a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 183,859 shares of the company’s stock, valued at approximately $596,000. Walleye Capital LLC owned approximately 0.19% of Editas Medicine at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Editas Medicine by 122.2% in 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. Acadian Asset Management LLC raised its holdings in shares of Editas Medicine by 288.5% during the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company’s stock worth $869,000 after acquiring an additional 558,567 shares during the period. Geode Capital Management LLC boosted its stake in Editas Medicine by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company’s stock worth $4,323,000 after purchasing an additional 20,521 shares during the period. JPMorgan Chase & Co. increased its holdings in Editas Medicine by 15.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company’s stock worth $2,345,000 after purchasing an additional 140,916 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Editas Medicine by 500.0% in the second quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company’s stock valued at $264,000 after purchasing an additional 100,000 shares in the last quarter. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Price Performance

Shares of EDIT opened at $2.82 on Friday. The company has a market cap of $433.10 million, a PE ratio of -3.76 and a beta of 2.14. The firm has a 50-day moving average of $2.89 and a 200-day moving average of $2.67. Editas Medicine, Inc. has a one year low of $1.66 and a one year high of $4.54.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.12. Editas Medicine had a negative net margin of 157.32% and a negative return on equity of 196.63%. The company had revenue of $11.89 million for the quarter, compared to analysts’ expectations of $2.85 million. Analysts expect that Editas Medicine, Inc. will post -0.89 earnings per share for the current year.

Analyst Ratings Changes

EDIT has been the subject of a number of recent research reports. Weiss Ratings raised Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday. TD Cowen reiterated a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Chardan Capital raised their price target on Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 15,380 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $2.70, for a total transaction of $41,526.00. Following the completion of the sale, the chief executive officer owned 248,313 shares of the company’s stock, valued at $670,445.10. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 21,503 shares of company stock worth $57,910. 3.10% of the stock is currently owned by insiders.

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.