Editas Medicine Inc (NASDAQ:EDIT) CFO Andrew A. F. Hack sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $32.23, for a total value of $322,300.00. Following the sale, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $322,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Editas Medicine stock opened at $30.01 on Friday. Editas Medicine Inc has a 52-week low of $19.06 and a 52-week high of $45.02. The company has a quick ratio of 14.50, a current ratio of 14.50 and a debt-to-equity ratio of 0.14.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Monday, August 6th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.15). Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The firm had revenue of $7.37 million during the quarter, compared to analyst estimates of $7.01 million. During the same period in the prior year, the business posted ($0.65) EPS. The firm’s quarterly revenue was up 137.7% compared to the same quarter last year. sell-side analysts anticipate that Editas Medicine Inc will post -3 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in EDIT. BlackRock Inc. raised its position in Editas Medicine by 20.7% in the 2nd quarter. BlackRock Inc. now owns 3,455,066 shares of the company’s stock valued at $123,796,000 after buying an additional 591,442 shares during the last quarter. ARK Investment Management LLC raised its position in Editas Medicine by 34.6% in the 2nd quarter. ARK Investment Management LLC now owns 2,181,572 shares of the company’s stock valued at $78,166,000 after buying an additional 561,364 shares during the last quarter. Federated Investors Inc. PA raised its position in Editas Medicine by 677.7% in the 1st quarter. Federated Investors Inc. PA now owns 255,100 shares of the company’s stock valued at $8,457,000 after buying an additional 222,300 shares during the last quarter. Morgan Stanley raised its position in Editas Medicine by 9.9% in the 2nd quarter. Morgan Stanley now owns 2,069,280 shares of the company’s stock valued at $74,142,000 after buying an additional 186,018 shares during the last quarter. Finally, JS Capital Management LLC acquired a new stake in Editas Medicine in the 2nd quarter valued at approximately $5,157,000. 67.25% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on the company. BidaskClub lowered Editas Medicine from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 30th. JPMorgan Chase & Co. set a $36.00 price target on Editas Medicine and gave the stock a “hold” rating in a research report on Monday, August 6th. Chardan Capital dropped their price target on Editas Medicine from $72.50 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, May 15th. Zacks Investment Research raised Editas Medicine from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, May 15th. Finally, ValuEngine raised Editas Medicine from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $47.43.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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