Aigen Investment Management LP Takes $600,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Aigen Investment Management LP acquired a new stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 59,209 shares of the company’s stock, valued at approximately $600,000. Aigen Investment Management LP owned approximately 0.07% of Editas Medicine at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Commonwealth Equity Services LLC grew its position in Editas Medicine by 10.8% in the third quarter. Commonwealth Equity Services LLC now owns 28,093 shares of the company’s stock worth $219,000 after acquiring an additional 2,748 shares during the period. Raymond James & Associates raised its holdings in Editas Medicine by 5.8% in the 3rd quarter. Raymond James & Associates now owns 274,303 shares of the company’s stock valued at $2,140,000 after buying an additional 14,994 shares during the period. Bank of New York Mellon Corp lifted its position in Editas Medicine by 14.2% in the third quarter. Bank of New York Mellon Corp now owns 314,234 shares of the company’s stock valued at $2,451,000 after buying an additional 39,076 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Editas Medicine by 34.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,632 shares of the company’s stock valued at $231,000 after acquiring an additional 7,574 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Editas Medicine by 27.4% in the 3rd quarter. Principal Financial Group Inc. now owns 24,197 shares of the company’s stock valued at $189,000 after acquiring an additional 5,202 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Trading Down 3.5 %

Shares of Editas Medicine stock opened at $5.81 on Thursday. Editas Medicine, Inc. has a 52 week low of $4.91 and a 52 week high of $11.91. The firm’s 50 day moving average is $6.36 and its two-hundred day moving average is $8.18.

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). Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. The firm had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $11.14 million. During the same quarter in the prior year, the business earned ($0.71) EPS. The company’s quarterly revenue was down 88.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Editas Medicine, Inc. will post -2.67 EPS for the current year.

Insider Activity at Editas Medicine

In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the transaction, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at approximately $1,333,335.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Baisong Mei sold 20,327 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares in the company, valued at approximately $1,333,335.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the sale, the chief executive officer now owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

EDIT has been the topic of a number of research reports. Citigroup decreased their price target on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. StockNews.com cut Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their price target on shares of Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. Barclays reduced their price target on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 9th. Finally, Morgan Stanley raised shares of Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price on the stock in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and a consensus target price of $13.90.

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.