Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Down 21.0% in February

by · The Cerbat Gem

Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 13,770,000 shares, a drop of 21.0% from the February 13th total of 17,440,000 shares. Approximately 17.0% of the shares of the stock are sold short. Based on an average trading volume of 4,140,000 shares, the days-to-cover ratio is presently 3.3 days.

Institutional Trading of Editas Medicine

A number of large investors have recently added to or reduced their stakes in the company. Invesco Ltd. increased its stake in Editas Medicine by 9.2% in the fourth quarter. Invesco Ltd. now owns 100,164 shares of the company’s stock worth $127,000 after purchasing an additional 8,448 shares during the period. Intech Investment Management LLC increased its position in shares of Editas Medicine by 43.1% during the fourth quarter. Intech Investment Management LLC now owns 40,942 shares of the company’s stock worth $52,000 after purchasing an additional 12,336 shares in the last quarter. Dark Forest Capital Management LP raised its stake in Editas Medicine by 66.9% in the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock valued at $42,000 after buying an additional 13,138 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Editas Medicine in the 3rd quarter valued at approximately $47,000. Finally, BNP Paribas Financial Markets raised its position in shares of Editas Medicine by 37.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 54,787 shares of the company’s stock valued at $187,000 after purchasing an additional 14,888 shares during the last quarter. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Stock Up 6.8 %

Shares of NASDAQ EDIT traded up $0.09 on Wednesday, reaching $1.41. 852,650 shares of the company’s stock traded hands, compared to its average volume of 4,185,886. The company has a market cap of $116.58 million, a price-to-earnings ratio of -0.55 and a beta of 1.88. The business’s 50 day simple moving average is $1.50 and its two-hundred day simple moving average is $2.29. Editas Medicine has a 12 month low of $1.12 and a 12 month high of $8.44.

Editas Medicine (NASDAQ:EDIT – Get Free Report) last announced 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). The company had revenue of $30.60 million for the quarter, compared to analysts’ expectations of $37.17 million. Editas Medicine had a negative net margin of 340.96% and a negative return on equity of 80.13%. During the same period in the previous year, the business earned ($0.23) EPS. Analysts forecast that Editas Medicine will post -2.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on EDIT shares. Truist Financial cut Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Robert W. Baird cut their price target on Editas Medicine from $10.00 to $8.00 and set an “outperform” rating on the stock in a research note on Friday, December 13th. Chardan Capital reaffirmed a “neutral” rating on shares of Editas Medicine in a research note on Friday, December 13th. Stifel Nicolaus downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating and cut their target price for the stock from $11.00 to $3.00 in a research report on Friday, December 13th. Finally, Wells Fargo & Company cut shares of Editas Medicine from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $7.00 to $4.00 in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.83.

Check Out Our Latest Report on EDIT

Editas Medicine Company Profile

(Get Free Report)

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.

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