Equities research analysts expect Editas Medicine Inc (NASDAQ:EDIT) to report sales of $3.33 million for the current quarter, according to Zacks. Three analysts have issued estimates for Editas Medicine’s earnings, with estimates ranging from $1.20 million to $6.28 million. Editas Medicine reported sales of $900,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 270%. The company is expected to report its next quarterly earnings report on Tuesday, March 6th.
On average, analysts expect that Editas Medicine will report full year sales of $3.33 million for the current fiscal year, with estimates ranging from $11.30 million to $16.34 million. For the next year, analysts expect that the firm will report sales of $19.98 million per share, with estimates ranging from $10.00 million to $39.03 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Editas Medicine.
A number of equities research analysts recently issued reports on EDIT shares. ValuEngine cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. BidaskClub upgraded Editas Medicine from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, November 10th. Cann restated a “hold” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. Finally, Cowen restated a “buy” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. Editas Medicine presently has an average rating of “Hold” and a consensus target price of $30.02.
In other news, CFO Andrew A. F. Hack sold 14,649 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $24.68, for a total transaction of $361,537.32. Following the sale, the chief financial officer now directly owns 5,000 shares in the company, valued at $123,400. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Katrine Bosley sold 3,338 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $35.28, for a total value of $117,764.64. Following the sale, the insider now owns 1,364,431 shares in the company, valued at $48,137,125.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,648 shares of company stock worth $3,052,489. Company insiders own 19.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EDIT. Farallon Capital Management LLC bought a new stake in shares of Editas Medicine during the fourth quarter valued at about $15,826,000. ARK Investment Management LLC increased its position in shares of Editas Medicine by 61.8% during the fourth quarter. ARK Investment Management LLC now owns 1,112,845 shares of the company’s stock valued at $34,198,000 after buying an additional 424,975 shares during the period. State Street Corp increased its position in shares of Editas Medicine by 305.4% during the second quarter. State Street Corp now owns 537,640 shares of the company’s stock valued at $9,022,000 after buying an additional 405,022 shares during the period. American Century Companies Inc. bought a new stake in shares of Editas Medicine during the third quarter valued at about $7,497,000. Finally, Ark Investment Management LLC increased its position in shares of Editas Medicine by 121.9% during the second quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock valued at $8,561,000 after buying an additional 280,265 shares during the period. Hedge funds and other institutional investors own 69.66% of the company’s stock.
Shares of Editas Medicine (NASDAQ:EDIT) traded down $0.97 during trading on Wednesday, reaching $33.82. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $41.60. The company has a market cap of $1,530.00 and a PE ratio of -10.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 10.12 and a current ratio of 10.12.
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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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