Editas Medicine, Inc. (NASDAQ:EDIT) CFO Andrew A. F. Hack sold 5,000 shares of Editas Medicine stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $24.81, for a total value of $124,050.00. Following the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $124,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Editas Medicine, Inc. (NASDAQ:EDIT) traded up $2.30 on Thursday, hitting $28.25. The stock had a trading volume of 1,502,300 shares, compared to its average volume of 916,477. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.12 and a current ratio of 10.12. Editas Medicine, Inc. has a fifty-two week low of $13.12 and a fifty-two week high of $29.20.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, November 7th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.04). The business had revenue of $6.28 million during the quarter, compared to analyst estimates of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The firm’s revenue was up 553.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.59) earnings per share. sell-side analysts expect that Editas Medicine, Inc. will post -2.92 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in EDIT. Bank of New York Mellon Corp boosted its holdings in shares of Editas Medicine by 53.3% in the 1st quarter. Bank of New York Mellon Corp now owns 63,490 shares of the company’s stock worth $1,418,000 after acquiring an additional 22,061 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Editas Medicine by 47.0% during the 1st quarter. Vanguard Group Inc. now owns 1,935,173 shares of the company’s stock worth $43,193,000 after buying an additional 618,789 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Editas Medicine by 4.7% during the 1st quarter. Geode Capital Management LLC now owns 119,376 shares of the company’s stock worth $2,664,000 after buying an additional 5,397 shares in the last quarter. Morgan Stanley lifted its holdings in Editas Medicine by 48.3% during the 1st 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, Schwab Charles Investment Management Inc. lifted its holdings in Editas Medicine by 8.4% during the 1st 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. 69.35% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on EDIT. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a report on Thursday, August 10th. Barclays PLC started coverage on Editas Medicine in a report on Wednesday, September 6th. They set an “overweight” rating and a $28.00 price objective on the stock. Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th. ValuEngine raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Finally, Zacks Investment Research raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $26.73.
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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