Shares of Editas Medicine, Inc. (NASDAQ:EDIT) were down 10.8% during trading on Tuesday following insider selling activity. The stock traded as low as $20.37 and last traded at $20.65, with a volume of 1,944,448 shares changing hands. The stock had previously closed at $23.16.

Specifically, Director Boris Nikolic acquired 35,000 shares of Editas Medicine stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $14.07 per share, with a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Katrine Bosley sold 16,666 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $20.02, for a total transaction of $333,653.32. Following the completion of the transaction, the insider now directly owns 1,431,095 shares in the company, valued at $28,650,521.90. The disclosure for this sale can be found here.

A number of equities analysts have issued reports on EDIT shares. Cann started coverage on shares of Editas Medicine in a research note on Monday, July 17th. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research note on Tuesday, July 18th. SunTrust Banks, Inc. started coverage on shares of Editas Medicine in a research note on Thursday, July 13th. They issued a “hold” rating and a $17.00 price objective on the stock. Finally, J P Morgan Chase & Co set a $27.00 price objective on shares of Editas Medicine and gave the company a “hold” rating in a research note on Wednesday, August 9th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $25.03.

The firm has a 50 day moving average of $17.34 and a 200-day moving average of $19.07. The stock’s market cap is $845.12 million.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported ($0.65) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.64) by $0.01. Editas Medicine had a negative net margin of 2,091.36% and a negative return on equity of 69.21%. The firm had revenue of $3.10 million during the quarter, compared to the consensus estimate of $2.20 million. During the same period in the prior year, the company posted ($0.54) earnings per share. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Editas Medicine, Inc. will post ($2.84) EPS for the current year.

Large investors have recently bought and sold shares of the stock. California State Teachers Retirement System raised its stake in Editas Medicine by 289.0% in the second quarter. California State Teachers Retirement System now owns 59,900 shares of the company’s stock worth $1,005,000 after buying an additional 44,500 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in Editas Medicine during the second quarter worth approximately $107,000. The Manufacturers Life Insurance Company raised its stake in Editas Medicine by 311.5% in the second quarter. The Manufacturers Life Insurance Company now owns 26,837 shares of the company’s stock worth $450,000 after buying an additional 20,316 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Editas Medicine during the second quarter worth approximately $285,000. Finally, York Capital Management Global Advisors LLC raised its stake in Editas Medicine by 2.9% in the second quarter. York Capital Management Global Advisors LLC now owns 154,407 shares of the company’s stock worth $2,591,000 after buying an additional 4,407 shares in the last quarter. 67.94% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.watchlistnews.com/editas-medicine-inc-edit-shares-down-10-8-after-insider-selling/1492241.html.

Editas Medicine Company Profile

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.

Receive News & Ratings for Editas Medicine Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.