Seven Fleet Capital Management LP Takes Position in Editas Medicine, Inc. $EDIT

Seven Fleet Capital Management LP bought a new position in Editas Medicine, Inc. (NASDAQ:EDIT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,330,500 shares of the company’s stock, valued at approximately $4,311,000. Editas Medicine comprises about 0.7% of Seven Fleet Capital Management LP’s portfolio, making the stock its 28th biggest position. Seven Fleet Capital Management LP owned approximately 0.87% of Editas Medicine at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in Editas Medicine by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,397 shares of the company’s stock worth $190,000 after purchasing an additional 6,177 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Editas Medicine by 33.3% in the third quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company’s stock worth $94,000 after buying an additional 6,787 shares during the period. Legal & General Group Plc acquired a new position in shares of Editas Medicine in the second quarter worth about $31,000. Victory Capital Management Inc. purchased a new position in shares of Editas Medicine in the third quarter worth approximately $36,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Editas Medicine in the second quarter worth approximately $38,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Editas Medicine Stock Performance

NASDAQ EDIT opened at $3.23 on Friday. Editas Medicine, Inc. has a twelve month low of $1.66 and a twelve month high of $4.54. The stock has a market cap of $496.06 million, a PE ratio of -4.31 and a beta of 2.09. The firm has a 50-day simple moving average of $3.03 and a 200 day simple moving average of $2.79.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.12. The firm had revenue of $11.89 million during the quarter, compared to analysts’ expectations of $2.85 million. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%. Research analysts forecast that Editas Medicine, Inc. will post -0.8 earnings per share for the current fiscal year.

Editas Medicine Company 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.