Thrive Wealth Management LLC Takes $36,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Thrive Wealth Management LLC acquired a new position in Editas Medicine, Inc. (NASDAQ:EDIT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 28,500 shares of the company’s stock, valued at approximately $36,000.

A number of other institutional investors have also recently bought and sold shares of the business. Jacobs Levy Equity Management Inc. lifted its position in shares of Editas Medicine by 133.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 529,834 shares of the company’s stock worth $1,807,000 after purchasing an additional 302,652 shares in the last quarter. Integral Health Asset Management LLC increased its stake in Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock valued at $3,152,000 after buying an additional 225,000 shares during the period. Millennium Management LLC lifted its position in Editas Medicine by 10.0% in the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after buying an additional 223,012 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Editas Medicine by 37.9% during the 3rd quarter. Stifel Financial Corp now owns 624,876 shares of the company’s stock valued at $2,131,000 after buying an additional 171,656 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of Editas Medicine during the 2nd quarter valued at $600,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EDIT has been the subject of several recent research reports. Robert W. Baird cut their price objective on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating for the company in a report on Friday, December 13th. Chardan Capital reaffirmed a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Barclays reduced their price target on Editas Medicine from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, December 13th. Wells Fargo & Company downgraded Editas Medicine from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $7.00 to $4.00 in a report on Wednesday, December 11th. Finally, Stifel Nicolaus cut shares of Editas Medicine from a “buy” rating to a “hold” rating and reduced their target price for the company from $11.00 to $3.00 in a research note on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Editas Medicine presently has an average rating of “Hold” and a consensus price target of $7.00.

Editas Medicine Price Performance

Shares of EDIT opened at $1.22 on Tuesday. Editas Medicine, Inc. has a one year low of $1.12 and a one year high of $11.58. The company’s fifty day moving average price is $1.77 and its 200 day moving average price is $3.19. The company has a market capitalization of $100.71 million, a PE ratio of -0.48 and a beta of 1.95.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting the consensus estimate of ($0.75). The business had revenue of $0.06 million during the quarter, compared to analysts’ expectations of $3.93 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm’s revenue was down 98.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.55) EPS. Analysts anticipate that Editas Medicine, Inc. will post -2.64 earnings per share for the current 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.