Editas Medicine Inc. (EDIT) Trading Down 2.2%
Editas Medicine Inc. (NASDAQ:EDIT)’s share price dropped 2.2% on Wednesday . The company traded as low as $14.36 and last traded at $14.57, with a volume of 127,760 shares traded. The stock had previously closed at $14.90.
EDIT has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Jefferies Group initiated coverage on shares of Editas Medicine in a research note on Thursday, June 2nd. They issued a “hold” rating and a $35.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $33.50.
The firm’s market capitalization is $528.94 million. The stock has a 50 day moving average price of $18.77 and a 200 day moving average price of $28.49.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.54) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.54). On average, equities analysts anticipate that Editas Medicine Inc. will post ($2.59) EPS for the current fiscal year.
In related news, major shareholder Polaris Venture Management Co. sold 500,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $16.80, for a total value of $8,400,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Kevin P. Starr sold 5,890 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $15.90, for a total transaction of $93,651.00. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors purchased a new position in shares of Editas Medicine during the second quarter worth about $115,000. Royal Bank of Canada acquired a new position in shares of Editas Medicine during the first quarter worth $164,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Editas Medicine during the second quarter worth $181,000. BlackRock Advisors LLC raised its position in shares of Editas Medicine by 175.4% in the second quarter. BlackRock Advisors LLC now owns 8,827 shares of the company’s stock worth $215,000 after buying an additional 5,622 shares during the period. Finally, Swiss National Bank acquired a new position in shares of Editas Medicine during the second quarter worth $242,000. Institutional investors own 61.00% of the company’s stock.
About Editas Medicine
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company 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)/CRISPR associated protein 9 (Cas9) technology.
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