Eversept Partners LP Makes New $596,000 Investment in Editas Medicine, Inc. $EDIT

Eversept Partners LP acquired a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 290,919 shares of the company’s stock, valued at approximately $596,000. Eversept Partners LP owned approximately 0.30% of Editas Medicine as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors purchased a new position in shares of Editas Medicine in the second quarter valued at $26,000. StoneX Group Inc. acquired a new position in Editas Medicine in the 4th quarter worth $33,000. Victory Capital Management Inc. purchased a new position in Editas Medicine in the 3rd quarter valued at about $36,000. Sei Investments Co. acquired a new stake in shares of Editas Medicine during the third quarter valued at about $46,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Editas Medicine during the third quarter valued at about $57,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 15,380 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total transaction of $41,526.00. Following the sale, the chief executive officer directly owned 248,313 shares in the company, valued at approximately $670,445.10. The trade was a 5.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 16,575 shares of company stock worth $44,753. 3.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on EDIT. Wall Street Zen cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Robert W. Baird set a $6.00 target price on Editas Medicine in a research report on Monday, March 9th. JonesTrading upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a research report on Monday, April 20th. Finally, Chardan Capital upped their price target on shares of Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $5.40.

Editas Medicine Stock Up 8.1%

EDIT stock opened at $2.55 on Thursday. The firm’s 50-day simple moving average is $2.94 and its 200 day simple moving average is $2.45. The stock has a market cap of $249.67 million, a PE ratio of -2.07 and a beta of 2.16. Editas Medicine, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $4.54.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.04. Editas Medicine had a negative return on equity of 677.39% and a negative net margin of 281.59%.The business had revenue of $2.83 million during the quarter, compared to analyst estimates of $6.37 million. Equities analysts forecast that Editas Medicine, Inc. will post -1.03 EPS for the current fiscal year.

Editas Medicine Company Profile

Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine’s research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.

The company’s pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.