Cornercap Investment Counsel Inc. Buys New Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Cornercap Investment Counsel Inc. purchased a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the 4th quarter, HoldingsChannel reports. The firm purchased 20,014 shares of the company’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock valued at $66,582,000 after buying an additional 370,734 shares during the period. State Street Corp grew its stake in Editas Medicine by 43.8% during the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock worth $93,219,000 after purchasing an additional 2,399,852 shares during the period. BlackRock Inc. increased its holdings in Editas Medicine by 2.4% in the second quarter. BlackRock Inc. now owns 7,595,696 shares of the company’s stock worth $62,513,000 after purchasing an additional 177,334 shares in the last quarter. Woodline Partners LP lifted its stake in Editas Medicine by 3.9% in the second quarter. Woodline Partners LP now owns 2,749,305 shares of the company’s stock valued at $22,627,000 after buying an additional 102,685 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Editas Medicine by 13.8% during the 4th quarter. Millennium Management LLC now owns 2,142,468 shares of the company’s stock worth $19,004,000 after buying an additional 259,598 shares in the last quarter. Institutional investors and hedge funds own 71.90% of the company’s stock.

Insider Buying and Selling at Editas Medicine

In other news, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the completion of the transaction, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at $3,084,767.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of Editas Medicine stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the transaction, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at $3,084,767.40. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Editas Medicine from $11.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. increased their price objective on shares of Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Barclays upped their price target on Editas Medicine from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Finally, StockNews.com upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Editas Medicine Stock Down 4.1 %

EDIT stock opened at $5.61 on Thursday. The stock’s 50 day moving average is $7.88 and its 200-day moving average is $8.42. Editas Medicine, Inc. has a twelve month low of $5.60 and a twelve month high of $11.91. The firm has a market capitalization of $458.95 million, a PE ratio of -2.74 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.29. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The firm had revenue of $60.00 million for the quarter, compared to the consensus estimate of $4.84 million. During the same period in the previous year, the firm earned ($0.88) EPS. The business’s revenue for the quarter was up 817.4% compared to the same quarter last year. On average, equities research analysts anticipate that Editas Medicine, Inc. will post -2.61 earnings per share for the current fiscal year.

Editas Medicine Profile

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.