Editas Medicine, Inc. (EDIT) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 16.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,559 shares of the company’s stock after buying an additional 4,945 shares during the period. Goldman Sachs Group Inc.’s holdings in Editas Medicine were worth $771,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Editas Medicine by 72.2% in the first quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock worth $133,000 after buying an additional 2,489 shares in the last quarter. Barrett Asset Management LLC bought a new position in shares of Editas Medicine during the first quarter worth approximately $223,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Editas Medicine during the first quarter worth approximately $269,000. Fox Run Management L.L.C. bought a new position in shares of Editas Medicine during the first quarter worth approximately $272,000. Finally, Trexquant Investment LP bought a new position in shares of Editas Medicine during the first quarter worth approximately $542,000. Institutional investors and hedge funds own 67.94% of the company’s stock.
Editas Medicine, Inc. (NASDAQ EDIT) traded up 3.5511% during trading on Wednesday, hitting $21.3833. 174,779 shares of the stock were exchanged. Editas Medicine, Inc. has a 12 month low of $12.43 and a 12 month high of $29.20. The stock’s 50 day moving average price is $17.42 and its 200 day moving average price is $19.08. The stock’s market cap is $875.13 million.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Wednesday, August 9th. The company reported ($0.65) earnings per share for the quarter, missing the consensus estimate of ($0.64) by $0.01. Editas Medicine had a negative return on equity of 67.75% and a negative net margin of 2,091.36%. The business had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.20 million. During the same period in the previous year, the company earned ($0.54) earnings per share. Editas Medicine’s quarterly revenue was down 8.8% on a year-over-year basis. Analysts forecast that Editas Medicine, Inc. will post ($2.84) EPS for the current fiscal year.
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EDIT has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, July 12th. SunTrust Banks, Inc. initiated coverage on shares of Editas Medicine in a research note on Thursday, July 13th. They issued a “hold” rating and a $17.00 target price on the stock. J P Morgan Chase & Co set a $27.00 target price on shares of Editas Medicine and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Cann reiterated a “hold” rating on shares of Editas Medicine in a research note on Thursday, August 10th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research note on Tuesday, July 18th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $25.03.
In related news, Director Kevin Bitterman sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $17.00, for a total transaction of $17,000,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Boris Nikolic bought 35,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were acquired at an average cost of $14.07 per share, for a total transaction of $492,450.00. Following the completion of the purchase, the director now owns 35,000 shares in the company, valued at $492,450. The disclosure for this purchase can be found here.
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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