Editas Medicine (NASDAQ:EDIT) EVP Sells $18,909.88 in Stock

Editas Medicine, Inc. (NASDAQ:EDIT) EVP Linda Burkly sold 7,814 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $2.42, for a total transaction of $18,909.88. Following the sale, the executive vice president directly owned 70,379 shares of the company’s stock, valued at $170,317.18. The trade was a 9.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.

Linda Burkly also recently made the following trade(s):

• On Thursday, September 3rd, Linda Burkly sold 709 shares of Editas Medicine stock. The stock was sold at an average price of $3.04, for a total transaction of $2,155.36.

Editas Medicine Price Performance

Shares of EDIT traded up $0.02 on Friday, reaching $2.16. The company’s stock had a trading volume of 2,785,410 shares, compared to its average volume of 2,243,847. The stock has a market capitalization of $333.37 million, a P/E ratio of -3.48 and a beta of 2.08. The stock’s 50 day simple moving average is $2.65 and its two-hundred day simple moving average is $2.69. Editas Medicine, Inc. has a 12-month low of $1.66 and a 12-month high of $3.94.

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

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Editas Medicine

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Editas Medicine in the second quarter worth $34,312,000. ADAR1 Capital Management LLC bought a new stake in shares of Editas Medicine during the 2nd quarter valued at $28,800,000. State Street Corp raised its position in shares of Editas Medicine by 60.6% during the 3rd quarter. State Street Corp now owns 7,038,580 shares of the company’s stock valued at $18,089,000 after purchasing an additional 2,654,974 shares during the period. Opaleye Management Inc. lifted its stake in shares of Editas Medicine by 100.4% during the 2nd quarter. Opaleye Management Inc. now owns 3,861,930 shares of the company’s stock valued at $12,513,000 after buying an additional 1,934,933 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Editas Medicine by 30.7% during the 1st quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company’s stock valued at $9,811,000 after buying an additional 932,382 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

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.