Editas Medicine Inc (NASDAQ:EDIT) traded down 5.2% during mid-day trading on Monday . The stock traded as low as $41.15 and last traded at $41.77. 2,339,054 shares were traded during mid-day trading, an increase of 30% from the average session volume of 1,799,063 shares. The stock had previously closed at $44.08.
Several equities research analysts recently issued reports on the company. Barclays boosted their price target on Editas Medicine from $28.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, March 7th. Cann reiterated a “hold” rating on shares of Editas Medicine in a research note on Friday, February 16th. Zacks Investment Research upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. JMP Securities boosted their price target on Editas Medicine from $40.00 to $67.00 and gave the company an “outperform” rating in a research note on Wednesday, March 7th. Finally, SunTrust Banks upgraded Editas Medicine from a “hold” rating to a “buy” rating and boosted their price target for the company from $17.00 to $45.00 in a research note on Tuesday, January 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.88.
The firm has a market cap of $1,958.38, a PE ratio of -13.90 and a beta of 3.68. The company has a current ratio of 9.05, a quick ratio of 9.05 and a debt-to-equity ratio of 0.16.
In other news, CFO Andrew A. F. Hack sold 5,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.31, for a total transaction of $121,550.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at $121,550. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew A. F. Hack sold 14,649 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $24.68, for a total transaction of $361,537.32. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at $123,400. The disclosure for this sale can be found here. Insiders have sold 101,782 shares of company stock valued at $3,514,684 over the last quarter. Company insiders own 19.40% of the company’s stock.
Several large investors have recently made changes to their positions in EDIT. Northern Trust Corp increased its holdings in shares of Editas Medicine by 245.9% during the second quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock worth $6,261,000 after buying an additional 265,273 shares in the last quarter. Ark Investment Management LLC grew its stake in shares of Editas Medicine by 121.9% in the second quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock worth $8,561,000 after purchasing an additional 280,265 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in shares of Editas Medicine in the second quarter worth $357,000. Voya Investment Management LLC bought a new stake in shares of Editas Medicine in the second quarter worth $258,000. Finally, Royal Bank of Canada grew its stake in shares of Editas Medicine by 4.1% in the second quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after purchasing an additional 372 shares during the last quarter. Institutional investors own 72.40% of the company’s stock.
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About Editas Medicine
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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