Mirae Asset Global Investments Co. Ltd. Purchases 62,711 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 82.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,576 shares of the company’s stock after acquiring an additional 62,711 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Editas Medicine were worth $5,820,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EDIT. Sowell Financial Services LLC raised its stake in Editas Medicine by 109.0% during the 1st quarter. Sowell Financial Services LLC now owns 834 shares of the company’s stock worth $29,000 after acquiring an additional 435 shares during the period. NEXT Financial Group Inc grew its holdings in Editas Medicine by 415.5% during the 1st quarter. NEXT Financial Group Inc now owns 995 shares of the company’s stock valued at $42,000 after buying an additional 802 shares in the last quarter. CKW Financial Group purchased a new stake in Editas Medicine during the 1st quarter valued at approximately $42,000. Concord Wealth Partners purchased a new stake in Editas Medicine during the 4th quarter valued at approximately $45,000. Finally, CWM LLC grew its holdings in Editas Medicine by 1,176.5% during the 1st quarter. CWM LLC now owns 1,085 shares of the company’s stock valued at $46,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 77.61% of the company’s stock.

EDIT stock opened at $40.87 on Friday. The firm has a fifty day simple moving average of $35.19. Editas Medicine, Inc. has a fifty-two week low of $27.01 and a fifty-two week high of $99.95.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Wednesday, May 5th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.76) by ($0.10). The firm had revenue of $6.50 million for the quarter, compared to analysts’ expectations of $5.78 million. Editas Medicine had a negative return on equity of 28.42% and a negative net margin of 147.51%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.69) earnings per share. As a group, research analysts predict that Editas Medicine, Inc. will post -3.67 EPS for the current year.

EDIT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reaffirmed a “sell” rating and set a $30.00 price objective on shares of Editas Medicine in a report on Sunday, February 28th. Credit Suisse Group initiated coverage on shares of Editas Medicine in a report on Monday, March 22nd. They set an “outperform” rating and a $58.00 price objective for the company. Truist lowered shares of Editas Medicine from a “buy” rating to a “hold” rating and set a $45.00 price objective for the company. in a report on Friday, February 26th. Morgan Stanley cut their price objective on shares of Editas Medicine from $40.00 to $37.00 and set an “underweight” rating for the company in a report on Monday, May 10th. Finally, Barclays reaffirmed an “equal weight” rating and set a $46.00 price objective on shares of Editas Medicine in a report on Monday, March 8th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.64.

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 genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas. The company develops EDIT-101, which is in Phase 1/2 clinical trial for Leber Congenital Amaurosis type 10, a genetic form of vision loss that leads to blindness in childhood.

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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