Bayesian Capital Management LP Takes $181,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Bayesian Capital Management LP bought a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 24,400 shares of the company’s stock, valued at approximately $181,000.

Other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. raised its position in Editas Medicine by 401.9% during the 4th quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock worth $53,000 after purchasing an additional 4,156 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in Editas Medicine by 351.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock worth $96,000 after purchasing an additional 7,355 shares during the last quarter. Headlands Technologies LLC raised its position in Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after purchasing an additional 7,861 shares during the last quarter. EntryPoint Capital LLC bought a new position in Editas Medicine during the 1st quarter worth $72,000. Finally, HB Wealth Management LLC bought a new position in Editas Medicine during the 1st quarter worth $76,000. 71.90% of the stock is owned by institutional investors.

Insider Buying and Selling at Editas Medicine

In other Editas Medicine news, EVP Linda Burkly sold 11,886 shares of Editas Medicine stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $5.42, for a total transaction of $64,422.12. Following the completion of the transaction, the executive vice president now owns 73,136 shares in the company, valued at approximately $396,397.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Linda Burkly sold 11,886 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $5.42, for a total value of $64,422.12. Following the transaction, the executive vice president now owns 73,136 shares in the company, valued at approximately $396,397.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Baisong Mei sold 6,619 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $5.21, for a total value of $34,484.99. Following the completion of the transaction, the executive vice president now owns 134,413 shares in the company, valued at approximately $700,291.73. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,207 shares of company stock worth $168,768. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

EDIT has been the subject of several analyst reports. Citigroup lowered their target price on Editas Medicine from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Barclays lowered their target price on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research report on Thursday, May 9th. Oppenheimer reiterated a “market perform” rating and set a $12.00 price target on shares of Editas Medicine in a report on Tuesday, June 18th. Evercore ISI decreased their price target on Editas Medicine from $15.00 to $7.00 and set an “in-line” rating for the company in a report on Thursday, May 30th. Finally, Morgan Stanley upgraded Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 price target for the company in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Editas Medicine presently has a consensus rating of “Hold” and a consensus target price of $12.90.

Editas Medicine Stock Performance

EDIT stock opened at $5.14 on Friday. The company has a market capitalization of $422.71 million, a P/E ratio of -2.45 and a beta of 2.01. Editas Medicine, Inc. has a 52-week low of $4.45 and a 52-week high of $11.69. The business has a 50-day simple moving average of $5.23 and a two-hundred day simple moving average of $6.52.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.13). The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $11.14 million. Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. Editas Medicine’s revenue for the quarter was down 88.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.71) EPS. As a group, sell-side analysts forecast that Editas Medicine, Inc. will post -2.7 earnings per share for the current fiscal year.

Editas Medicine Company Profile

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.