Monaco Asset Management SAM Makes New Investment in Editas Medicine, Inc. (NASDAQ:EDIT)

Monaco Asset Management SAM purchased a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,069,732 shares of the company’s stock, valued at approximately $1,359,000.

Other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC purchased a new stake in Editas Medicine during the 4th quarter worth about $31,000. Thrive Wealth Management LLC acquired a new position in Editas Medicine in the fourth quarter valued at $36,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Editas Medicine during the third quarter worth about $47,000. Erste Asset Management GmbH purchased a new position in shares of Editas Medicine during the third quarter worth about $52,000. Finally, Drive Wealth Management LLC acquired a new stake in shares of Editas Medicine during the third quarter worth about $65,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Trading Down 9.3 %

NASDAQ:EDIT opened at $1.37 on Friday. The firm has a market cap of $113.68 million, a P/E ratio of -0.54 and a beta of 1.88. The stock’s 50 day simple moving average is $1.50 and its 200-day simple moving average is $2.36. Editas Medicine, Inc. has a 12-month low of $1.12 and a 12-month high of $8.59.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, March 5th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.16). Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. The company had revenue of $30.60 million for the quarter, compared to analyst estimates of $37.17 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Research analysts forecast that Editas Medicine, Inc. will post -2.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. downgraded Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Bank of America lowered shares of Editas Medicine from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $13.00 to $1.00 in a research report on Monday, November 25th. Truist Financial lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Wells Fargo & Company lowered shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $7.00 to $4.00 in a research report on Wednesday, December 11th. Finally, Evercore ISI lowered their target price on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.83.

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.