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

Editas Medicine, Inc. (NASDAQ:EDIT) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 13,770,000 shares, a decline of 21.0% from the February 13th total of 17,440,000 shares. Based on an average daily trading volume, of 4,140,000 shares, the days-to-cover ratio is presently 3.3 days. Currently, 17.0% of the shares of the company are short sold.

Editas Medicine Stock Down 6.7 %

Shares of EDIT traded down $0.10 during trading hours on Tuesday, reaching $1.32. 1,553,242 shares of the company traded hands, compared to its average volume of 2,535,986. The stock has a market capitalization of $109.11 million, a PE ratio of -0.51 and a beta of 1.88. The stock has a fifty day simple moving average of $1.50 and a 200 day simple moving average of $2.29. Editas Medicine has a fifty-two week low of $1.12 and a fifty-two week high of $8.44.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on EDIT. Wells Fargo & Company cut Editas Medicine from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $7.00 to $4.00 in a research report on Wednesday, December 11th. JPMorgan Chase & Co. downgraded Editas Medicine from a “neutral” rating to an “underweight” rating in a research note on Monday, December 16th. Chardan Capital reiterated a “neutral” rating on shares of Editas Medicine in a research report on Friday, December 13th. Royal Bank of Canada decreased their target price on shares of Editas Medicine from $5.00 to $4.00 and set a “sector perform” rating on the stock in a research report on Friday, December 13th. Finally, Evercore ISI lowered their price target on shares of Editas Medicine from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $6.83.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Two Sigma Advisers LP grew its position in shares of Editas Medicine by 46.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company’s stock valued at $2,104,000 after purchasing an additional 528,000 shares during the period. Two Sigma Investments LP grew its holdings in Editas Medicine by 21.4% in the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company’s stock valued at $2,094,000 after buying an additional 290,483 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Editas Medicine during the 4th quarter valued at about $1,843,000. Balyasny Asset Management L.P. increased its stake in shares of Editas Medicine by 647.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock valued at $1,652,000 after acquiring an additional 1,126,569 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Editas Medicine by 30.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company’s stock worth $1,486,000 after acquiring an additional 272,467 shares during the period. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Editas Medicine Company 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.