Editas Medicine (NASDAQ:EDIT) Stock: Insider Linda Burkly Sells 7,814 Shares

Editas Medicine, Inc. (NASDAQ:EDIT) EVP Linda Burkly sold 7,814 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $2.42, for a total value of $18,909.88. Following the transaction, the executive vice president directly owned 70,379 shares in the company, valued at $170,317.18. This trade represents a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 Thursday, September 3rd, Linda Burkly sold 709 shares of Editas Medicine stock. The stock was sold at an average price of $3.04, for a total value of $2,155.36.

Editas Medicine Stock Up 1.4%

Shares of NASDAQ EDIT traded up $0.03 during trading hours on Friday, hitting $2.17. The company had a trading volume of 2,785,410 shares, compared to its average volume of 2,235,164. The stock has a market capitalization of $334.92 million, a P/E ratio of -3.50 and a beta of 2.08. Editas Medicine, Inc. has a 1-year low of $1.66 and a 1-year high of $3.94. The firm’s 50 day moving average is $2.63 and its 200-day moving average is $2.69.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Monday, November 9th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. The business had revenue of $10.37 million during the quarter, compared to analysts’ expectations of $4.46 million. Editas Medicine had a negative net margin of 144.95% and a negative return on equity of 130.43%. On average, sell-side analysts predict that Editas Medicine, Inc. will post -0.79 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in Editas Medicine in the 2nd quarter valued at $34,312,000. ADAR1 Capital Management LLC bought a new position in Editas Medicine during the second quarter worth $28,800,000. State Street Corp boosted its position in Editas Medicine by 60.6% during the third quarter. State Street Corp now owns 7,038,580 shares of the company’s stock worth $18,089,000 after purchasing an additional 2,654,974 shares during the period. Opaleye Management Inc. increased its holdings in shares of Editas Medicine by 100.4% in the second quarter. Opaleye Management Inc. now owns 3,861,930 shares of the company’s stock valued at $12,513,000 after purchasing an additional 1,934,933 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Editas Medicine by 30.7% in the first quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company’s stock valued at $9,811,000 after purchasing an additional 932,382 shares during the last quarter. 71.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EDIT has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Editas Medicine from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $4.00 to $6.00 in a research note on Thursday, October 8th. Ladenburg Thalmann & Co. Inc. began coverage on shares of Editas Medicine in a research report on Tuesday, August 18th. They issued a “buy” rating and a $6.00 price objective for the company. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Editas Medicine in a report on Wednesday, November 4th. Finally, Guggenheim raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Wednesday, September 23rd. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $5.83.

Editas Medicine Company Profile

Editas Medicine, Inc. is a biotechnology company developing genome-editing medicines for people with serious diseases. Its research uses CRISPR-based technologies, including CRISPR-Cas9 and Cas12a, to make targeted changes to DNA. Founded in 2013 and based in Cambridge, Massachusetts, the company conducts research and clinical development of potential treatments for genetic disorders. Its work has included approaches designed to edit genes in a patient’s cells, either outside the body or directly within the body.