TD Asset Management Inc. Has $531,000 Position in Editas Medicine, Inc. (EDIT)
TD Asset Management Inc. reduced its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 6.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,670 shares of the company’s stock after selling 2,100 shares during the period. TD Asset Management Inc. owned 0.08% of Editas Medicine worth $531,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the stock. Thrivent Financial For Lutherans purchased a new position in shares of Editas Medicine during the first quarter valued at about $1,137,000. FMR LLC boosted its position in shares of Editas Medicine by 7.3% in the first quarter. FMR LLC now owns 5,901,489 shares of the company’s stock valued at $131,721,000 after buying an additional 403,099 shares during the period. LMR Partners LLP purchased a new position in shares of Editas Medicine during the first quarter valued at about $3,419,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Editas Medicine during the first quarter valued at about $269,000. Finally, Victory Capital Management Inc. boosted its position in shares of Editas Medicine by 90.6% in the first quarter. Victory Capital Management Inc. now owns 42,272 shares of the company’s stock valued at $944,000 after buying an additional 20,092 shares during the period. Hedge funds and other institutional investors own 70.17% of the company’s stock.
Editas Medicine, Inc. (NASDAQ EDIT) opened at 21.26 on Thursday. The stock’s 50 day moving average price is $17.75 and its 200 day moving average price is $19.12. The firm’s market capitalization is $870.09 million. Editas Medicine, Inc. has a 12 month low of $12.43 and a 12 month high of $29.20.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Wednesday, August 9th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by $0.01. Editas Medicine had a negative return on equity of 67.75% and a negative net margin of 2,091.36%. The firm had revenue of $3.10 million for the quarter, compared to the consensus estimate of $2.20 million. During the same period in the prior year, the business earned ($0.54) EPS. Editas Medicine’s quarterly revenue was down 8.8% on a year-over-year basis. Equities research analysts expect that Editas Medicine, Inc. will post ($2.84) earnings per share for the current fiscal year.
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Several equities analysts have recently issued reports on EDIT shares. Cann started coverage on Editas Medicine in a research report on Monday, July 17th. They set a “market perform” rating on the stock. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a research report on Tuesday, July 18th. SunTrust Banks, Inc. started coverage on Editas Medicine in a research report on Thursday, July 13th. They set a “hold” rating and a $17.00 price target on the stock. Finally, J P Morgan Chase & Co set a $27.00 price target on Editas Medicine and gave the company a “hold” rating in a research report on Wednesday, August 9th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $25.03.
In related news, insider Katrine Bosley sold 16,666 shares of Editas Medicine stock in a transaction 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 owns 1,431,095 shares of the company’s stock, valued at $28,650,521.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Boris Nikolic bought 35,000 shares of the stock in a transaction that occurred 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 purchase, the director now directly owns 35,000 shares of the company’s stock, valued at $492,450. The disclosure for this purchase can be found here.
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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