Editas Medicine (EDIT) Trading Down 0%
Shares of Editas Medicine Inc (NASDAQ:EDIT) were down 0% during trading on Monday . The stock traded as low as $27.00 and last traded at $30.02. Approximately 6,027,616 shares were traded during trading, an increase of 343% from the average daily volume of 1,360,000 shares. The stock had previously closed at $30.02.
Several analysts have commented on EDIT shares. ValuEngine upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 target price (up previously from $27.00) on shares of Editas Medicine in a research report on Friday, October 6th. Zacks Investment Research cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cowen reiterated a “buy” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Finally, Cann reiterated a “hold” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.73.
The company has a market capitalization of $1,370.00 and a P/E ratio of -9.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). The company had revenue of $6.28 million during the quarter, compared to analyst estimates of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. Editas Medicine’s revenue for the quarter was up 553.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.59) earnings per share. research analysts anticipate that Editas Medicine Inc will post -2.92 EPS for the current fiscal year.
In related news, insider Katrine Bosley sold 8,333 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.64, for a total value of $196,992.12. Following the completion of the transaction, the insider now directly owns 1,393,322 shares of the company’s stock, valued at approximately $32,938,132.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew A. F. Hack sold 5,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $24.81, for a total transaction of $124,050.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $124,050. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,310 shares of company stock valued at $1,689,449. Company insiders own 19.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of EDIT. IHT Wealth Management LLC acquired a new position in shares of Editas Medicine during the 2nd quarter worth about $107,000. Great West Life Assurance Co. Can boosted its stake in shares of Editas Medicine by 519.9% during the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after buying an additional 4,159 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Editas Medicine by 308.4% during the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock worth $145,000 after buying an additional 6,535 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Editas Medicine by 4.1% during the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after buying an additional 372 shares during the last quarter. Finally, Voya Investment Management LLC acquired a new position in shares of Editas Medicine during the 2nd quarter worth about $258,000. Institutional investors own 65.70% of the company’s stock.
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About Editas Medicine
Editas Medicine, Inc is a genome editing company. It 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) technology.
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