Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets cut its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 60.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 215,011 shares of the company’s stock after selling 332,859 shares during the period. BNP Paribas Financial Markets owned 0.26% of Editas Medicine worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position 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 purchasing an additional 370,734 shares during the period. Citigroup Inc. lifted its position in Editas Medicine by 13.6% in the third quarter. Citigroup Inc. now owns 212,582 shares of the company’s stock valued at $1,658,000 after buying an additional 25,532 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Editas Medicine by 1,183.6% during the fourth quarter. International Assets Investment Management LLC now owns 288,269 shares of the company’s stock worth $28,457,000 after buying an additional 265,812 shares during the period. QRG Capital Management Inc. acquired a new stake in shares of Editas Medicine during the third quarter valued at about $635,000. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of Editas Medicine by 351.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock valued at $96,000 after acquiring an additional 7,355 shares during the period. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EDIT. JPMorgan Chase & Co. raised their target price on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. StockNews.com cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Citigroup reduced their target price on shares of Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Barclays dropped their price target on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Finally, Morgan Stanley upgraded Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.90.

Insider Activity at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 77,824 shares of the business’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 sale, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Jessica Hopfield purchased 45,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average price of $5.64 per share, for a total transaction of $253,800.00. Following the transaction, the director now directly owns 67,700 shares of the company’s stock, valued at approximately $381,828. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the sale, 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. Insiders own 1.90% of the company’s stock.

Editas Medicine Stock Down 3.4 %

Shares of Editas Medicine stock opened at $5.63 on Friday. Editas Medicine, Inc. has a 52 week low of $4.91 and a 52 week high of $11.91. The firm’s 50 day moving average is $6.27 and its two-hundred day moving average is $8.15. The firm has a market capitalization of $463.01 million, a P/E ratio of -2.68 and a beta of 2.09.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.13). The company had revenue of $1.10 million during the quarter, compared to analysts’ expectations of $11.14 million. Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. Editas Medicine’s revenue was down 88.9% on a year-over-year basis. During the same period last year, the firm earned ($0.71) earnings per share. As a group, research analysts expect that Editas Medicine, Inc. will post -2.67 earnings per share for the current fiscal year.

About Editas Medicine

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.