Editas Medicine, Inc. (EDIT) Trading 8.9% Higher
Editas Medicine, Inc. (NASDAQ:EDIT) traded up 8.9% during trading on Thursday . The company traded as high as $28.45 and last traded at $28.25. 1,502,315 shares traded hands during trading, an increase of 64% from the average session volume of 916,477 shares. The stock had previously closed at $25.95.
A number of equities research analysts have recently commented on the company. Zacks Investment Research downgraded Editas Medicine from a “buy” rating to a “hold” rating in a research report on Monday, November 13th. Cann restated a “hold” rating on shares of Editas Medicine in a report on Tuesday, November 7th. Cowen Inc restated a “buy” rating on shares of Editas Medicine in a report on Tuesday, November 7th. ValuEngine lowered Editas Medicine from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $28.00 target price (up previously from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Editas Medicine presently has a consensus rating of “Hold” and an average price target of $26.73.
The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.19.
Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). The business 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 70.19%. Editas Medicine’s revenue for the quarter was up 553.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.59) EPS. analysts predict that Editas Medicine, Inc. will post -2.92 earnings per share for the current fiscal year.
In related news, CFO Andrew A. F. Hack sold 5,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $25.35, for a total transaction of $126,750.00. Following the completion of the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $126,750. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Katrine Bosley sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,414,629 shares of the company’s stock, valued at $28,886,724.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,332 shares of company stock valued at $1,197,304. 19.40% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Editas Medicine by 12.5% during the second quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock worth $36,533,000 after acquiring an additional 241,973 shares in the last quarter. State Street Corp raised its holdings in shares of Editas Medicine by 305.4% during the second quarter. State Street Corp now owns 537,640 shares of the company’s stock worth $9,022,000 after acquiring an additional 405,022 shares in the last quarter. Ark Investment Management LLC raised its holdings in shares of Editas Medicine by 121.9% during the second quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock worth $8,561,000 after acquiring an additional 280,265 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Editas Medicine by 245.9% during the second quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock worth $6,261,000 after acquiring an additional 265,273 shares in the last quarter. Finally, American Century Companies Inc. purchased a new stake in shares of Editas Medicine during the third quarter worth $7,497,000. Institutional investors and hedge funds own 69.35% 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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