Editas Medicine, Inc. (EDIT) Stock Price Up 0%
Editas Medicine, Inc. (NASDAQ:EDIT)’s share price rose 0% during trading on Friday . The company traded as high as $24.47 and last traded at $24.38. Approximately 753,699 shares were traded during trading, a decline of 18% from the average daily volume of 918,723 shares. The stock had previously closed at $24.38.
EDIT has been the subject of a number of research analyst reports. Cowen and Company reissued a “buy” rating on shares of Editas Medicine in a report on Tuesday. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Friday. Morgan Stanley restated an “equal weight” rating and issued a $28.00 price target (up from $27.00) on shares of Editas Medicine in a research report on Friday, October 6th. SunTrust Banks, Inc. started coverage on Editas Medicine in a research report on Thursday, July 13th. They issued a “hold” rating and a $17.00 price target for the company. Finally, ValuEngine upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $26.73.
The company has a debt-to-equity ratio of 0.18, a quick ratio of 6.74 and a current ratio of 6.74.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). The company had revenue of $6.28 million during the quarter, compared to analysts’ expectations of $2.66 million. Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.43%. Editas Medicine’s revenue for the quarter was up 553.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.59) earnings per share. sell-side analysts anticipate that Editas Medicine, Inc. will post -2.88 earnings per share for the current fiscal year.
In related news, CEO Katrine Bosley sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $20.42, for a total value of $204,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,414,629 shares in the company, valued at $28,886,724.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 43,332 shares of company stock valued at $946,504 over the last quarter. 19.40% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the stock. IHT Wealth Management LLC purchased a new position in Editas Medicine in the second quarter worth approximately $107,000. Great West Life Assurance Co. Can grew its position in Editas Medicine by 519.9% in the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after acquiring an additional 4,159 shares during the period. Bank of America Corp DE grew its position in 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 acquiring an additional 2,489 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Editas Medicine in the second quarter worth approximately $127,000. Finally, Legal & General Group Plc grew its position in Editas Medicine by 308.4% in the second quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock worth $145,000 after acquiring an additional 6,535 shares during the period. Institutional investors own 70.51% of the company’s stock.
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.
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