Alliancebernstein L.P. Purchases 700 Shares of Editas Medicine Inc (NASDAQ:EDIT)

Alliancebernstein L.P. raised its stake in Editas Medicine Inc (NASDAQ:EDIT) by 1.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,100 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Alliancebernstein L.P. owned 0.12% of Editas Medicine worth $1,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Editas Medicine by 3.2% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,107,677 shares of the company’s stock worth $101,285,000 after acquiring an additional 159,450 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of Editas Medicine by 3.2% in the first quarter. Nikko Asset Management Americas Inc. now owns 5,107,677 shares of the company’s stock worth $101,285,000 after buying an additional 159,450 shares during the period. State Street Corp increased its holdings in shares of Editas Medicine by 1.9% in the first quarter. State Street Corp now owns 2,027,729 shares of the company’s stock worth $40,210,000 after buying an additional 37,871 shares during the period. Chevy Chase Trust Holdings Inc. increased its holdings in shares of Editas Medicine by 3.6% in the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 970,957 shares of the company’s stock worth $28,749,000 after buying an additional 34,101 shares during the period. Finally, Credit Suisse AG increased its holdings in Editas Medicine by 1.5% during the 4th quarter. Credit Suisse AG now owns 970,252 shares of the company’s stock valued at $28,730,000 after purchasing an additional 14,414 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

EDIT has been the topic of several research reports. Zacks Investment Research cut Editas Medicine from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research report on Monday, June 1st. Oppenheimer reaffirmed a “hold” rating on shares of Editas Medicine in a research report on Monday, June 15th. Morgan Stanley decreased their target price on shares of Editas Medicine from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Monday, May 11th. Chardan Capital reiterated a “buy” rating and set a $55.00 target price on shares of Editas Medicine in a research note on Friday, June 12th. Finally, BidaskClub upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, June 19th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.50.

NASDAQ:EDIT opened at $29.58 on Wednesday. Editas Medicine Inc has a 12 month low of $14.01 and a 12 month high of $36.78. The firm has a fifty day simple moving average of $28.31 and a 200-day simple moving average of $26.25. The company has a current ratio of 6.17, a quick ratio of 6.17 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $1.63 billion, a P/E ratio of -10.64 and a beta of 2.04.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Thursday, May 7th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.79) by $0.10. Editas Medicine had a negative net margin of 588.05% and a negative return on equity of 63.21%. The firm had revenue of $5.70 million during the quarter, compared to analysts’ expectations of $6.73 million. During the same quarter last year, the company posted ($0.60) earnings per share. The firm’s revenue was up 171.4% compared to the same quarter last year. Equities analysts forecast that Editas Medicine Inc will post -3.02 EPS for the current year.

Editas Medicine Company Profile

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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