Twinbeech Capital LP acquired a new position in Editas Medicine, Inc. (NASDAQ:EDIT) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 37,184 shares of the company’s stock, valued at approximately $1,528,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. State Street Corp increased its holdings in Editas Medicine by 9.1% in the 2nd quarter. State Street Corp now owns 2,534,162 shares of the company’s stock worth $143,535,000 after buying an additional 210,444 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Editas Medicine by 2,523.4% in the 3rd quarter. Victory Capital Management Inc. now owns 1,118,909 shares of the company’s stock worth $45,964,000 after buying an additional 1,076,258 shares in the last quarter. Morgan Stanley increased its holdings in Editas Medicine by 12.8% in the 3rd quarter. Morgan Stanley now owns 913,048 shares of the company’s stock worth $37,510,000 after buying an additional 103,589 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Editas Medicine by 12.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 709,766 shares of the company’s stock worth $29,160,000 after buying an additional 80,735 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in Editas Medicine in the 3rd quarter worth about $29,059,000. Institutional investors own 67.71% of the company’s stock.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Thursday, February 3rd. Morgan Stanley cut their price target on Editas Medicine from $37.00 to $24.00 and set an “underweight” rating for the company in a research note on Thursday, January 6th. Finally, Evercore ISI downgraded Editas Medicine to a “hold” rating and set a $15.00 price target for the company. in a research note on Friday, February 11th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $44.23.
In related news, CFO Michelle Robertson sold 1,744 shares of the business’s stock in a transaction that occurred on Tuesday, January 11th. The stock was sold at an average price of $25.70, for a total value of $44,820.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.94% of the stock is currently owned by insiders.
NASDAQ EDIT opened at $15.20 on Friday. The stock’s 50 day moving average is $22.60 and its 200 day moving average is $38.59. Editas Medicine, Inc. has a 12 month low of $15.03 and a 12 month high of $73.03. The stock has a market cap of $1.04 billion, a PE ratio of -4.69 and a beta of 2.03.
Editas Medicine Profile
Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.
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