Gilmore Neil O’neill Sells 12,191 Shares of Editas Medicine, Inc. (NASDAQ:EDIT) Stock

Editas Medicine, Inc. (NASDAQ:EDITGet Free Report) CEO Gilmore Neil O’neill sold 12,191 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $5.50, for a total value of $67,050.50. Following the sale, the chief executive officer now owns 315,279 shares in the company, valued at approximately $1,734,034.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Editas Medicine Stock Performance

NASDAQ EDIT opened at $5.30 on Friday. Editas Medicine, Inc. has a 52-week low of $4.91 and a 52-week high of $11.91. The company has a fifty day moving average of $5.78 and a 200-day moving average of $7.90. The company has a market capitalization of $435.87 million, a P/E ratio of -2.52 and a beta of 2.06.

Editas Medicine (NASDAQ:EDITGet Free Report) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.13). The firm had revenue of $1.10 million for the quarter, compared to the consensus estimate of $11.14 million. Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. The company’s revenue for the quarter was down 88.9% on a year-over-year basis. During the same period last year, the firm earned ($0.71) EPS. As a group, analysts forecast that Editas Medicine, Inc. will post -2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on EDIT. Barclays decreased their price objective on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. JPMorgan Chase & Co. upped their price target on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. Evercore ISI cut their price objective on shares of Editas Medicine from $15.00 to $7.00 and set an “in-line” rating for the company in a research report on Thursday, May 30th. Citigroup decreased 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. Finally, StockNews.com downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and an average target price of $13.27.

Read Our Latest Stock Analysis on EDIT

Institutional Trading of Editas Medicine

Hedge funds and other institutional investors have recently bought and sold shares of the company. Russell Investments Group Ltd. raised its stake in shares of Editas Medicine by 401.9% during the fourth quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock worth $53,000 after acquiring an additional 4,156 shares in the last quarter. Clear Street Markets LLC purchased a new position in Editas Medicine in the 3rd quarter worth $44,000. Amalgamated Bank lifted its stake in Editas Medicine by 18.0% in the third quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock worth $63,000 after purchasing an additional 1,226 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in Editas Medicine by 351.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock valued at $96,000 after buying an additional 7,355 shares during the period. Finally, Headlands Technologies LLC grew its stake in shares of Editas Medicine by 481.7% during the first quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after buying an additional 7,861 shares during the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Editas Medicine (NASDAQ:EDIT)

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