Paulson & CO. Inc. Invests $1.12 Million in Editas Medicine, Inc. (EDIT)

Paulson & CO. Inc. acquired a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 50,000 shares of the company’s stock, valued at approximately $1,116,000.

A number of other hedge funds have also recently added to or reduced their stakes in EDIT. Bank of America Corp DE raised its stake in Editas Medicine by 72.2% in the first quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock worth $133,000 after buying an additional 2,489 shares in the last quarter. Omega Advisors Inc. purchased a new stake in Editas Medicine during the first quarter worth $1,116,000. Schwab Charles Investment Management Inc. raised its stake in Editas Medicine by 8.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 42,150 shares of the company’s stock worth $941,000 after buying an additional 3,249 shares in the last quarter. Morgan Stanley raised its stake in Editas Medicine by 48.3% in the first quarter. Morgan Stanley now owns 308,909 shares of the company’s stock worth $6,895,000 after buying an additional 100,585 shares in the last quarter. Finally, UBS Group AG raised its stake in Editas Medicine by 747.7% in the first quarter. UBS Group AG now owns 78,217 shares of the company’s stock worth $1,746,000 after buying an additional 68,990 shares in the last quarter. Institutional investors and hedge funds own 67.36% of the company’s stock.

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

Shares of Editas Medicine, Inc. (EDIT) traded up 4.16% during mid-day trading on Friday, hitting $16.28. 739,487 shares of the stock were exchanged. Editas Medicine, Inc. has a 52-week low of $12.43 and a 52-week high of $31.55. The stock has a 50-day moving average price of $17.18 and a 200 day moving average price of $18.99. The firm’s market cap is $663.07 million.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, May 15th. The company reported ($0.85) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.62) by $0.23. The company had revenue of $0.68 million during the quarter, compared to analysts’ expectations of $1 million. Editas Medicine had a negative net margin of 1,864.00% and a negative return on equity of 63.29%. The business’s revenue for the quarter was down 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.80) earnings per share. On average, equities research analysts expect that Editas Medicine, Inc. will post ($2.74) earnings per share for the current year.

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A number of research firms have weighed in on EDIT. Zacks Investment Research upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Chardan Capital initiated coverage on shares of Editas Medicine in a research note on Monday, March 27th. They issued a “buy” rating for the company. Vetr upgraded shares of Editas Medicine from a “buy” rating to a “strong-buy” rating and set a $27.14 price target for the company in a research note on Monday, March 20th. Cowen and Company reiterated a “buy” rating on shares of Editas Medicine in a research note on Wednesday, March 15th. Finally, J P Morgan Chase & Co set a $32.00 price target on shares of Editas Medicine and gave the stock a “hold” rating in a research note on Wednesday, March 8th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $27.79.

In related news, Director Kevin Bitterman sold 1,000,000 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $17.00, for a total value of $17,000,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Boris Nikolic purchased 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was acquired at an average price of $14.07 per share, for a total transaction of $492,450.00. Following the acquisition, the director now owns 35,000 shares in the company, valued at approximately $492,450. The disclosure for this purchase can be found here.

Editas Medicine Company Profile

Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.

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