Editas Medicine (NASDAQ:EDIT) CEO Gilmore Neil O’neill Sells 21,164 Shares of Company Stock

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore O’neill sold 21,164 shares of the business’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $2.42, for a total value of $51,216.88. Following the sale, the chief executive officer directly owned 265,592 shares of the company’s stock, valued at $642,732.64. This represents a 7.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gilmore Neil O’neill also recently made the following trade(s):

• On Thursday, September 3rd, Gilmore O’neill sold 5,124 shares of Editas Medicine stock. The stock was sold at an average price of $3.04, for a total value of $15,576.96.

Editas Medicine Stock Up 1.4%

EDIT traded up $0.03 during midday trading on Friday, reaching $2.17. The company had a trading volume of 2,785,410 shares, compared to its average volume of 2,235,164. The business has a 50-day moving average of $2.63 and a two-hundred day moving average of $2.69. Editas Medicine, Inc. has a 1 year low of $1.66 and a 1 year high of $3.94. The company has a market cap of $334.92 million, a P/E ratio of -3.50 and a beta of 2.08.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $10.37 million for the quarter, compared to analysts’ expectations of $4.46 million. Editas Medicine had a negative return on equity of 130.43% and a negative net margin of 144.95%. On average, equities research analysts predict that Editas Medicine, Inc. will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Editas Medicine

Large investors have recently made changes to their positions in the business. Legal & General Group Plc purchased a new stake in shares of Editas Medicine during the second quarter worth about $31,000. Pallas Capital Advisors LLC bought a new stake in Editas Medicine during the 2nd quarter valued at approximately $38,000. Private Advisor Group LLC bought a new stake in Editas Medicine during the 3rd quarter valued at approximately $31,000. R Squared Ltd purchased a new position in Editas Medicine in the 3rd quarter worth approximately $32,000. Finally, Callan Family Office LLC purchased a new position in Editas Medicine in the 2nd quarter worth approximately $47,000. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EDIT has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Ladenburg Thalmann & Co. Inc. started coverage on shares of Editas Medicine in a research report on Tuesday, August 18th. They issued a “buy” rating and a $6.00 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Editas Medicine in a research note on Wednesday, November 4th. Guggenheim raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, September 23rd. Finally, Wells Fargo & Company upgraded shares of Editas Medicine from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $4.00 to $6.00 in a research report on Thursday, October 8th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.83.

About Editas Medicine

Editas Medicine, Inc. is a biotechnology company developing genome-editing medicines for people with serious diseases. Its research uses CRISPR-based technologies, including CRISPR-Cas9 and Cas12a, to make targeted changes to DNA. Founded in 2013 and based in Cambridge, Massachusetts, the company conducts research and clinical development of potential treatments for genetic disorders. Its work has included approaches designed to edit genes in a patient’s cells, either outside the body or directly within the body.