Bayesian Capital Management LP Makes New Investment in Editas Medicine, Inc. (NASDAQ:EDIT)

Bayesian Capital Management LP purchased a new position in Editas Medicine, Inc. (NASDAQ:EDIT) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 24,400 shares of the company’s stock, valued at approximately $181,000.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of Editas Medicine by 40.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock worth $24,236,000 after buying an additional 690,366 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Editas Medicine by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock worth $66,582,000 after buying an additional 370,734 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Editas Medicine by 1,183.6% in the 4th quarter. International Assets Investment Management LLC now owns 288,269 shares of the company’s stock worth $28,457,000 after buying an additional 265,812 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Editas Medicine in the 1st quarter worth about $1,097,000. Finally, Seven Eight Capital LP bought a new stake in shares of Editas Medicine in the 4th quarter worth about $1,482,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EDIT shares. StockNews.com downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Barclays reduced their target price on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Thursday, May 9th. Oppenheimer reiterated a “market perform” rating and set a $12.00 price target on shares of Editas Medicine in a report on Tuesday, June 18th. Citigroup cut their price target on shares of Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Finally, Evercore ISI cut their price target on shares of Editas Medicine from $15.00 to $7.00 and set an “in-line” rating on the stock in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.90.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, Director Jessica Hopfield purchased 45,000 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $5.64 per share, with a total value of $253,800.00. Following the transaction, the director now owns 67,700 shares of the company’s stock, valued at $381,828. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Editas Medicine news, Director Jessica Hopfield purchased 45,000 shares of the stock in a transaction dated Monday, May 13th. The stock was purchased at an average price of $5.64 per share, with a total value of $253,800.00. Following the transaction, the director now owns 67,700 shares of the company’s stock, valued at $381,828. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gilmore Neil O’neill sold 12,191 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total transaction of $67,050.50. Following the completion of the sale, the chief executive officer now directly owns 315,279 shares of the company’s stock, valued at approximately $1,734,034.50. The disclosure for this sale can be found here. Insiders sold a total of 31,207 shares of company stock valued at $168,768 in the last three months. Company insiders own 1.90% of the company’s stock.

Editas Medicine Price Performance

Editas Medicine stock opened at $5.14 on Friday. The stock has a market cap of $422.71 million, a price-to-earnings ratio of -2.45 and a beta of 2.01. Editas Medicine, Inc. has a 1 year low of $4.45 and a 1 year high of $11.69. The firm has a 50-day moving average of $5.23 and a two-hundred day moving average of $6.52.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.13). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. Editas Medicine’s quarterly revenue was down 88.9% on a year-over-year basis. During the same period last year, the firm earned ($0.71) earnings per share. Research analysts expect that Editas Medicine, Inc. will post -2.7 earnings per share for the current year.

Editas Medicine 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.