Bridgeway Capital Management LLC Buys Shares of 150,000 Editas Medicine, Inc. (NASDAQ:EDIT)

Bridgeway Capital Management LLC bought a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 150,000 shares of the company’s stock, valued at approximately $190,000. Bridgeway Capital Management LLC owned 0.18% of Editas Medicine as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EDIT. Balyasny Asset Management L.P. raised its stake in shares of Editas Medicine by 647.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock worth $1,652,000 after buying an additional 1,126,569 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Editas Medicine by 162.9% during the 4th quarter. BNP Paribas Financial Markets now owns 144,060 shares of the company’s stock worth $183,000 after buying an additional 89,273 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Editas Medicine by 282.7% during the 4th quarter. Ameriprise Financial Inc. now owns 227,609 shares of the company’s stock worth $289,000 after buying an additional 168,134 shares during the last quarter. Freestone Grove Partners LP acquired a new position in shares of Editas Medicine during the 4th quarter worth $46,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Editas Medicine during the 4th quarter worth $346,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Price Performance

EDIT opened at $1.50 on Wednesday. The stock has a market capitalization of $125.57 million, a price-to-earnings ratio of -0.59 and a beta of 2.15. The business has a 50-day moving average of $1.36 and a two-hundred day moving average of $1.68. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $6.69.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.08. The company had revenue of $4.66 million during the quarter, compared to analysts’ expectations of $0.79 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same quarter in the previous year, the business earned ($76.00) EPS. Equities research analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EDIT shares. Robert W. Baird cut their price target on Editas Medicine from $8.00 to $4.00 and set an “outperform” rating for the company in a research note on Tuesday. HC Wainwright assumed coverage on shares of Editas Medicine in a research note on Monday, April 28th. They issued a “buy” rating and a $3.00 target price for the company. Finally, Cantor Fitzgerald raised shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.36.

About Editas Medicine

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.