Oppenheimer & Co. Inc. purchased a new position in shares of Editas Medicine Inc (NASDAQ:EDIT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,711 shares of the company’s stock, valued at approximately $595,000.
A number of other hedge funds also recently modified their holdings of the stock. TRUE Private Wealth Advisors acquired a new stake in shares of Editas Medicine in the third quarter worth $137,000. Asset Dedication LLC increased its position in shares of Editas Medicine by 4,400.0% in the second quarter. Asset Dedication LLC now owns 4,500 shares of the company’s stock worth $161,000 after acquiring an additional 4,400 shares in the last quarter. Reynders McVeigh Capital Management LLC acquired a new stake in shares of Editas Medicine in the second quarter worth $202,000. Telos Capital Management Inc. acquired a new stake in shares of Editas Medicine in the second quarter worth $203,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of Editas Medicine in the second quarter worth $226,000. 67.31% of the stock is owned by hedge funds and other institutional investors.
EDIT has been the subject of several recent research reports. BidaskClub lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. JPMorgan Chase & Co. set a $36.00 price objective on shares of Editas Medicine and gave the stock a “hold” rating in a research report on Monday, August 6th. Zacks Investment Research lowered shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Raymond James initiated coverage on shares of Editas Medicine in a research report on Friday, September 21st. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Guggenheim initiated coverage on shares of Editas Medicine in a research report on Tuesday, October 9th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $46.50.
EDIT opened at $28.62 on Thursday. The firm has a market cap of $1.29 billion, a P/E ratio of -9.60 and a beta of 3.14. Editas Medicine Inc has a twelve month low of $20.29 and a twelve month high of $45.02. The company has a quick ratio of 14.50, a current ratio of 14.50 and a debt-to-equity ratio of 0.14.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, November 7th. The company reported ($0.32) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.66) by $0.34. The business had revenue of $14.52 million during the quarter, compared to analyst estimates of $9.83 million. Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The business’s revenue was up 131.2% on a year-over-year basis. During the same period last year, the business earned ($0.64) EPS. Equities analysts forecast that Editas Medicine Inc will post -3 earnings per share for the current year.
WARNING: “18,711 Shares in Editas Medicine Inc (EDIT) Acquired by Oppenheimer & Co. Inc.” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this piece can be accessed at https://www.com-unik.info/2018/11/08/18711-shares-in-editas-medicine-inc-edit-acquired-by-oppenheimer-co-inc.html.
Editas Medicine Profile
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
Recommended Story: How is a Moving Average Calculated?
Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.