Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Up 5.4% in December

Editas Medicine, Inc. (NASDAQ:EDIT) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 16,930,000 shares, a growth of 5.4% from the November 30th total of 16,060,000 shares. Based on an average trading volume of 2,450,000 shares, the short-interest ratio is currently 6.9 days.

Editas Medicine Trading Up 5.8 %

NASDAQ EDIT opened at $1.27 on Wednesday. The stock has a market capitalization of $104.84 million, a price-to-earnings ratio of -0.50 and a beta of 1.87. The business’s 50 day moving average is $2.28 and its two-hundred day moving average is $3.54. Editas Medicine has a 12-month low of $1.16 and a 12-month high of $11.58.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm had revenue of $0.06 million for the quarter, compared to analyst estimates of $3.93 million. During the same quarter in the prior year, the company posted ($0.55) earnings per share. Editas Medicine’s quarterly revenue was down 98.9% on a year-over-year basis. Equities analysts forecast that Editas Medicine will post -2.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on EDIT shares. Royal Bank of Canada cut their target price on Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, December 13th. Barclays cut their price target on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Friday, December 13th. Truist Financial cut Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Stifel Nicolaus cut shares of Editas Medicine from a “buy” rating to a “hold” rating and cut their target price for the company from $11.00 to $3.00 in a report on Friday, December 13th. Finally, JPMorgan Chase & Co. cut shares of Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Editas Medicine has an average rating of “Hold” and a consensus price target of $7.00.

Hedge Funds Weigh In On Editas Medicine

Large investors have recently made changes to their positions in the stock. Millennium Management LLC raised its holdings in Editas Medicine by 10.0% during the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after purchasing an additional 223,012 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Editas Medicine by 133.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after buying an additional 302,652 shares during the last quarter. Integral Health Asset Management LLC raised its stake in shares of Editas Medicine by 50.0% during the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after buying an additional 225,000 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Editas Medicine by 37.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock worth $187,000 after buying an additional 14,888 shares in the last quarter. Finally, FMR LLC grew its stake in Editas Medicine by 110.7% in the 3rd quarter. FMR LLC now owns 203,087 shares of the company’s stock valued at $693,000 after acquiring an additional 106,684 shares during the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

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.