Polaris Venture Partners VI, LP (“PVP VI”) Owns 11.4% Stake in Editas Medicine Inc. (EDIT)
Polaris Venture Partners VI, LP (“PVP VI”) revealed that they own a 11.4% stake in Editas Medicine Inc. (NASDAQ:EDIT) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission on Monday, September 19th. The investor owns 4,156,173 shares of the stock valued at approximately $61,303,552. The reporting parties listed on the disclosure included Polaris Venture Partners VI, LP (“PVP VI”), Polaris Venture Founders’ Fund VI, LP (“PVPFF VI”), Polaris Venture Management Co VI, LLC (“PVM VI”), Jonathan A Flint (“Flint”), Terrance G McGuire (“McGuire”), Brian Chee (“Chee”), David Barrett (“Barrett”), Amir Nashat (“Nashat”), Bryce Youngren (“Youngren”) and Kevin Bitterman (“Bitterman”). The filing is available through Edgar at this link.
Polaris Venture Partners VI, LP (“PVP VI”) provided the following explanation of their ownership:
Item 4 of the Original Schedule 13D is hereby amended to add the following statements:
On September 8, 2016, PVP VI sold 472,393 shares of Common Stock on the open market and PVPFF VI sold 27,607 shares of Common Stock on the open market.
Several other institutional investors also recently bought and sold shares of EDIT. Schwab Charles Investment Management Inc. boosted its stake in Editas Medicine by 120.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,365 shares of the company’s stock worth $473,000 after buying an additional 10,594 shares in the last quarter. Metropolitan Life Insurance Co. NY acquired a new stake in Editas Medicine during the second quarter worth $181,000. Paloma Partners Management Co acquired a new stake in Editas Medicine during the second quarter worth $252,000. Flagship Ventures Fund IV General Partner LLC acquired a new stake in Editas Medicine during the second quarter worth $120,910,000. Finally, State Street Corp boosted its stake in Editas Medicine by 190.4% in the second quarter. State Street Corp now owns 100,234 shares of the company’s stock worth $2,447,000 after buying an additional 65,723 shares in the last quarter. Institutional investors and hedge funds own 61.00% of the company’s stock.
Editas Medicine Inc. (NASDAQ:EDIT) traded up 1.79% during midday trading on Monday, hitting $14.75. The stock had a trading volume of 525,546 shares. Editas Medicine Inc. has a 1-year low of $12.57 and a 1-year high of $43.99. The stock’s market cap is $522.21 million. The company has a 50-day moving average of $20.48 and a 200-day moving average of $29.13.
Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, August 9th. The company reported ($0.54) earnings per share for the quarter, hitting the consensus estimate of ($0.54). Equities research analysts forecast that Editas Medicine Inc. will post ($2.59) EPS for the current year.
A number of equities research analysts recently weighed in on EDIT shares. Zacks Investment Research cut Editas Medicine from a “hold” rating to a “sell” rating in a report on Monday, August 15th. Jefferies Group started coverage on Editas Medicine in a report on Thursday, June 2nd. They set a “hold” rating and a $35.00 price target for the company. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Editas Medicine currently has an average rating of “Buy” and a consensus price target of $33.50.
In other news, major shareholder Kevin P. Starr sold 5,890 shares of the stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $15.90, for a total value of $93,651.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Polaris Venture Management Co. sold 500,000 shares of the stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $16.80, for a total value of $8,400,000.00. The disclosure for this sale can be found here.
Editas Medicine Company Profile
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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