Editas Medicine (NASDAQ:EDIT) CEO 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 transaction of $51,216.88. Following the completion of the sale, the chief executive officer owned 265,592 shares of the company’s stock, valued at approximately $642,732.64. This represents a 7.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 shares were sold at an average price of $3.04, for a total transaction of $15,576.96.

Editas Medicine Stock Up 0.9%

Shares of NASDAQ EDIT traded up $0.02 during midday trading on Friday, reaching $2.16. 2,785,410 shares of the company’s stock traded hands, compared to its average volume of 2,243,847. The company has a market cap of $333.37 million, a price-to-earnings ratio of -3.48 and a beta of 2.08. The stock’s 50 day simple moving average is $2.65 and its 200-day simple moving average is $2.69. Editas Medicine, Inc. has a one year low of $1.66 and a one year high of $3.94.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The company had revenue of $10.37 million during the quarter, compared to the consensus estimate of $4.46 million. Editas Medicine had a negative net margin of 144.95% and a negative return on equity of 130.43%. Equities analysts predict that Editas Medicine, Inc. will post -0.79 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Editas Medicine

A number of hedge funds and other institutional investors have recently bought and sold shares of EDIT. GSA Capital Partners LLP acquired a new stake in Editas Medicine in the second quarter valued at approximately $1,190,000. Opaleye Management Inc. increased its position in shares of Editas Medicine by 100.4% during the second quarter. Opaleye Management Inc. now owns 3,861,930 shares of the company’s stock worth $12,513,000 after purchasing an additional 1,934,933 shares in the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of Editas Medicine during the second quarter worth $4,311,000. Renaissance Technologies LLC lifted its holdings 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 purchasing an additional 932,382 shares during the last quarter. Finally, BlackRock Inc. purchased a new stake in shares of Editas Medicine during the 2nd quarter valued at $34,312,000. 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.