Editas Medicine (NASDAQ:EDIT) CEO Sells $12,046.45 in Stock

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O’neill sold 5,603 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $2.15, for a total value of $12,046.45. Following the completion of the sale, the chief executive officer owned 269,087 shares in the company, valued at approximately $578,537.05. The trade was a 2.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Editas Medicine Stock Performance

Editas Medicine stock traded up $0.06 during trading hours on Thursday, hitting $2.43. The company had a trading volume of 1,570,206 shares, compared to its average volume of 2,730,958. The company has a 50-day moving average price of $3.12 and a two-hundred day moving average price of $2.70. Editas Medicine, Inc. has a 1 year low of $0.91 and a 1 year high of $4.54. The firm has a market cap of $237.22 million, a P/E ratio of -1.02 and a beta of 2.44.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.10. Editas Medicine had a negative return on equity of 277.29% and a negative net margin of 430.84%.The company had revenue of $7.54 million for the quarter, compared to analysts’ expectations of $4.95 million. As a group, equities research analysts anticipate that Editas Medicine, Inc. will post -2.71 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on EDIT. Wells Fargo & Company lifted their price target on shares of Editas Medicine from $3.00 to $4.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 3rd. Chardan Capital raised shares of Editas Medicine from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 13th. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of Editas Medicine in a research note on Friday, September 5th. Robert W. Baird lifted their price objective on shares of Editas Medicine from $4.00 to $6.00 and gave the company an “outperform” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Editas Medicine has an average rating of “Hold” and a consensus price target of $4.29.

Hedge Funds Weigh In On Editas Medicine

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Editas Medicine by 122.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock valued at $3,016,000 after purchasing an additional 1,430,000 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Editas Medicine by 1.1% during the second quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company’s stock worth $4,323,000 after buying an additional 20,521 shares during the period. Two Sigma Investments LP grew its position in Editas Medicine by 63.3% in the 3rd quarter. Two Sigma Investments LP now owns 1,584,155 shares of the company’s stock valued at $5,497,000 after acquiring an additional 614,229 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Editas Medicine by 15.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company’s stock worth $2,345,000 after buying an additional 140,916 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Editas Medicine by 761.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 800,023 shares of the company’s stock worth $2,776,000 after acquiring an additional 707,181 shares during the period. Institutional investors and hedge funds own 71.90% of the company’s stock.

About Editas Medicine

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.