Wellington Management Group LLP Invests $1 Million in Editas Medicine, Inc. $EDIT

Wellington Management Group LLP acquired a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 309,395 shares of the company’s stock, valued at approximately $1,002,000. Wellington Management Group LLP owned 0.20% of Editas Medicine as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nantahala Capital Management LLC acquired a new position in shares of Editas Medicine in the 2nd quarter valued at approximately $2,762,748. Seven Fleet Capital Management LP bought a new position in Editas Medicine in the second quarter valued at approximately $4,310,820. Corient Private Wealth LP acquired a new position in Editas Medicine during the second quarter valued at approximately $72,000. Bank of America Corp DE bought a new stake in Editas Medicine during the second quarter worth $751,000. Finally, ADAR1 Capital Management LLC bought a new stake in Editas Medicine during the second quarter worth $28,800,000. 71.90% of the stock is owned by institutional investors.

Editas Medicine Price Performance

Shares of NASDAQ EDIT opened at $2.70 on Friday. The company has a 50 day simple moving average of $2.98 and a 200 day simple moving average of $2.83. Editas Medicine, Inc. has a 1 year low of $1.66 and a 1 year high of $4.54. The firm has a market cap of $414.67 million, a PE ratio of -3.60 and a beta of 2.09.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping 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 firm had revenue of $11.89 million for the quarter, compared to analyst estimates of $2.85 million. As a group, research analysts anticipate that Editas Medicine, Inc. will post -0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EDIT shares. Wall Street Zen raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Weiss Ratings upgraded Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH started coverage on Editas Medicine in a research note on Tuesday, August 18th. They issued a “buy” rating and a $6.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Editas Medicine Profile

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.