Legal & General Group Plc Has $746,000 Stock Position in Editas Medicine Inc (NASDAQ:EDIT)

Legal & General Group Plc grew its stake in Editas Medicine Inc (NASDAQ:EDIT) by 3.1% during the first quarter, HoldingsChannel.com reports. The firm owned 35,773 shares of the company’s stock after buying an additional 1,091 shares during the period. Legal & General Group Plc’s holdings in Editas Medicine were worth $746,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Editas Medicine in the 4th quarter valued at about $214,000. Rhumbline Advisers raised its stake in shares of Editas Medicine by 9.3% in the 4th quarter. Rhumbline Advisers now owns 71,873 shares of the company’s stock valued at $2,128,000 after purchasing an additional 6,114 shares during the period. Swiss National Bank raised its stake in shares of Editas Medicine by 2.6% in the 4th quarter. Swiss National Bank now owns 85,300 shares of the company’s stock valued at $2,526,000 after purchasing an additional 2,200 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Editas Medicine by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 316,001 shares of the company’s stock valued at $9,357,000 after purchasing an additional 16,818 shares during the period. Finally, FMR LLC raised its stake in shares of Editas Medicine by 75.2% in the 4th quarter. FMR LLC now owns 160,794 shares of the company’s stock valued at $4,761,000 after purchasing an additional 68,997 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on EDIT shares. Morgan Stanley decreased their price objective on Editas Medicine from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Monday, May 11th. Zacks Investment Research cut Editas Medicine from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Monday, June 1st. ValuEngine upgraded Editas Medicine from a “hold” rating to a “buy” rating in a report on Friday, March 13th. SunTrust Banks started coverage on Editas Medicine in a report on Thursday, June 18th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Chardan Capital restated a “buy” rating and issued a $55.00 price objective on shares of Editas Medicine in a report on Friday, June 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $37.50.

Editas Medicine stock opened at $29.58 on Wednesday. Editas Medicine Inc has a 52 week low of $14.01 and a 52 week high of $36.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.17 and a current ratio of 6.17. The stock has a market capitalization of $1.63 billion, a P/E ratio of -10.64 and a beta of 2.04. The stock has a 50-day simple moving average of $28.31 and a 200 day simple moving average of $26.25.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.10. Editas Medicine had a negative return on equity of 63.21% and a negative net margin of 588.05%. The business 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. Editas Medicine’s quarterly revenue was up 171.4% on a year-over-year basis. Research analysts forecast that Editas Medicine Inc will post -3.02 earnings per share for the current year.

About Editas Medicine

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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