Paloma Partners Management Co Takes Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Paloma Partners Management Co acquired a new position in Editas Medicine, Inc. (NASDAQ:EDIT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 19,416 shares of the company’s stock, valued at approximately $66,000.

Several other large investors also recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Editas Medicine during the 3rd quarter valued at about $320,000. Erste Asset Management GmbH bought a new position in Editas Medicine during the third quarter valued at approximately $52,000. Verition Fund Management LLC purchased a new stake in Editas Medicine in the third quarter worth approximately $78,000. Townsquare Capital LLC boosted its holdings in Editas Medicine by 169.8% in the third quarter. Townsquare Capital LLC now owns 29,923 shares of the company’s stock worth $102,000 after purchasing an additional 18,831 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Editas Medicine by 37.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock worth $187,000 after purchasing an additional 14,888 shares during the period. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Stock Performance

EDIT opened at $2.14 on Friday. Editas Medicine, Inc. has a fifty-two week low of $1.89 and a fifty-two week high of $11.58. The stock has a market cap of $176.66 million, a price-to-earnings ratio of -0.84 and a beta of 1.86. The firm’s fifty day moving average is $2.89 and its 200 day moving average is $4.03.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.75) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.75). Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The firm had revenue of $0.06 million during the quarter, compared to analyst estimates of $3.93 million. During the same quarter in the prior year, the company posted ($0.55) earnings per share. The business’s quarterly revenue was down 98.9% compared to the same quarter last year. On average, equities research analysts predict that Editas Medicine, Inc. will post -2.63 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on EDIT. Truist Financial dropped their price target on Editas Medicine from $12.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Barclays dropped their target price on Editas Medicine from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada reduced their price target on shares of Editas Medicine from $8.00 to $5.00 and set a “sector perform” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus dropped their price objective on shares of Editas Medicine from $17.00 to $11.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $12.00 target price on shares of Editas Medicine in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Editas Medicine has a consensus rating of “Hold” and a consensus target price of $7.92.

Editas Medicine 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.