Walleye Capital LLC Makes New $596,000 Investment in Editas Medicine, Inc. $EDIT

Walleye Capital LLC bought a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 183,859 shares of the company’s stock, valued at approximately $596,000.

Several other hedge funds have also added to or reduced their stakes in EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 increased its position in 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 holdings 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 valued at $4,323,000 after purchasing an additional 20,521 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Editas Medicine by 15.2% during the second 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 during the period. Finally, Bridgeway Capital Management LLC boosted its stake 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 buying an additional 100,000 shares during the period. 71.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 15,380 shares of Editas Medicine stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $2.70, for a total value of $41,526.00. Following the completion of the sale, the chief executive officer directly owned 248,313 shares in the company, valued at approximately $670,445.10. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,503 shares of company stock worth $57,910 over the last quarter. Corporate insiders own 3.10% of the company’s stock.

Editas Medicine Price Performance

EDIT opened at $2.82 on Friday. The company’s 50 day moving average price is $2.89 and its two-hundred day moving average price is $2.67. The firm has a market capitalization of $433.10 million, a price-to-earnings ratio of -3.76 and a beta of 2.14. Editas Medicine, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $4.54.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.85 million. As a group, equities research analysts predict that Editas Medicine, Inc. will post -0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EDIT shares. Wall Street Zen raised 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 report on Tuesday. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research note on Wednesday, May 27th. Finally, Chardan Capital upped their target price on Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Editas Medicine presently has a consensus rating of “Moderate Buy” and an average price target of $5.40.

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.