Here is What Hedge Funds Think About Editas Medicine Inc (EDIT)

As aggregate interest increased, key money managers were breaking ground themselves. Sabby Capital initiated the most valuable position in Editas Medicine Inc (NASDAQ:EDIT) which had $1.8 million invested in the company at the end of the quarter. Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital also made a $1.2 million investment in the stock during the quarter. The other funds with new positions in the stock are Eli Casdin’s Casdin Capital, Dmitry Balyasny’s Balyasny Asset Management, and Mike Vranos’ Ellington.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Editas Medicine Inc (NASDAQ:EDIT) but similarly valued. We will take a look at Live Oak Bancshares Inc (NASDAQ:LOB), Bristow Group Inc (NYSE:BRS), Preferred Bank (NASDAQ:PFBC), and Minerva Neurosciences Inc (NASDAQ:NERV). This group of stocks’ market values are closest to EDIT’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $102 million. That figure was $54 million in EDIT’s case. Bristow Group Inc (NYSE:BRS) is the most popular stock in this table. On the other hand Live Oak Bancshares Inc (NASDAQ:LOB) is the least popular one with only 4 bullish hedge fund positions. Editas Medicine Inc (NASDAQ:EDIT) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BRS might be a better candidate to consider taking a long position in.

Disclosure: None