Editas Medicine (NASDAQ:EDIT) EVP Linda Burkly Sells 4,928 Shares

Editas Medicine, Inc. (NASDAQ:EDIT) EVP Linda Burkly sold 4,928 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $2.67, for a total transaction of $13,157.76. Following the transaction, the executive vice president directly owned 62,369 shares of the company’s stock, valued at approximately $166,525.23. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Linda Burkly also recently made the following trade(s):

• On Wednesday, June 3rd, Linda Burkly sold 731 shares of Editas Medicine stock. The shares were sold at an average price of $2.70, for a total transaction of $1,973.70.

Editas Medicine Stock Performance

Shares of EDIT stock opened at $2.60 on Thursday. The stock has a market capitalization of $254.57 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. Editas Medicine, Inc. has a one year low of $1.66 and a one year high of $4.54. The company’s 50-day simple moving average is $2.95 and its 200-day simple moving average is $2.61.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $2.83 million during the quarter, compared to analyst estimates of $6.37 million. As a group, research analysts forecast that Editas Medicine, Inc. will post -1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on EDIT. Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Chardan Capital lifted 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. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research report on Friday, July 17th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $5.40.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Editas Medicine by 122.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock valued at $3,016,000 after buying an additional 1,430,000 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Editas Medicine by 288.5% during the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company’s stock worth $869,000 after acquiring an additional 558,567 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Editas Medicine by 1.1% during the second quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company’s stock worth $4,323,000 after acquiring an additional 20,521 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Editas Medicine by 15.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company’s stock worth $2,345,000 after acquiring an additional 140,916 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Editas Medicine by 500.0% in the second quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company’s stock valued at $264,000 after acquiring an additional 100,000 shares in the last quarter. 71.90% of the stock is currently owned by institutional investors.

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.