Opaleye Management Inc. Acquires 1,934,933 Shares of Editas Medicine, Inc. $EDIT

Opaleye Management Inc. boosted its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 100.4% during the second quarter, Holdings Channel.com reports. The firm owned 3,861,930 shares of the company’s stock after acquiring an additional 1,934,933 shares during the quarter. Editas Medicine comprises about 1.1% of Opaleye Management Inc.’s portfolio, making the stock its 24th largest holding. Opaleye Management Inc.’s holdings in Editas Medicine were worth $12,513,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Editas Medicine by 7.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 92,397 shares of the company’s stock valued at $190,000 after purchasing an additional 6,177 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Editas Medicine by 33.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company’s stock worth $94,000 after buying an additional 6,787 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Editas Medicine in the 2nd quarter worth approximately $31,000. Victory Capital Management Inc. bought a new position in Editas Medicine during the 3rd quarter valued at approximately $36,000. Finally, Pallas Capital Advisors LLC bought a new position in Editas Medicine during the 2nd quarter valued at approximately $38,000. Institutional investors own 71.90% of the company’s stock.

Analyst Ratings Changes

EDIT has been the topic of several analyst reports. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings upgraded Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH began coverage on Editas Medicine in a research report on Tuesday, August 18th. They issued a “buy” rating and a $6.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $6.00.

Editas Medicine Stock Down 4.3%

Shares of EDIT opened at $2.65 on Friday. The company has a market capitalization of $406.99 million, a P/E ratio of -3.53 and a beta of 2.09. The firm has a 50 day moving average of $3.00 and a 200 day moving average of $2.83. Editas Medicine, Inc. has a twelve month low of $1.66 and a twelve month high of $4.54.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.12. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%.The business had revenue of $11.89 million for the quarter, compared to analysts’ expectations of $2.85 million. On average, sell-side analysts expect that Editas Medicine, Inc. will post -0.8 EPS for the current year.

About Editas Medicine

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and ?-thalassemia using an ex vivo editing approach.