Editas Medicine (NASDAQ:EDIT) insider Charles Albright sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The stock was sold at an average price of $35.00, for a total value of $350,000.00. Following the sale, the insider now directly owns 10,000 shares in the company, valued at $350,000. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of EDIT traded down $0.10 during mid-day trading on Friday, hitting $36.53. 587,217 shares of the stock were exchanged, compared to its average volume of 1,438,904. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -12.26 and a beta of 3.62. Editas Medicine has a 52-week low of $13.12 and a 52-week high of $45.02. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.71 and a quick ratio of 11.71.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Thursday, May 3rd. The company reported ($0.67) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.82) by $0.15. Editas Medicine had a negative return on equity of 58.73% and a negative net margin of 707.98%. The company had revenue of $3.90 million for the quarter, compared to analyst estimates of $4.04 million. During the same quarter in the prior year, the firm posted ($0.85) EPS. Editas Medicine’s quarterly revenue was up 473.5% compared to the same quarter last year. sell-side analysts expect that Editas Medicine will post -3 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Editas Medicine by 86.9% during the 1st quarter. Royal Bank of Canada now owns 37,616 shares of the company’s stock valued at $1,247,000 after buying an additional 17,494 shares during the period. Hilltop Holdings Inc. purchased a new stake in Editas Medicine during the 1st quarter valued at $459,000. Cubist Systematic Strategies LLC purchased a new stake in Editas Medicine during the 1st quarter valued at $352,000. California State Teachers Retirement System raised its holdings in Editas Medicine by 4.1% during the 1st quarter. California State Teachers Retirement System now owns 56,489 shares of the company’s stock valued at $1,873,000 after buying an additional 2,201 shares during the period. Finally, Kovack Advisors Inc. purchased a new stake in Editas Medicine during the 1st quarter valued at $223,000. Institutional investors own 65.36% of the company’s stock.
Several brokerages have recently issued reports on EDIT. BidaskClub raised Editas Medicine from a “hold” rating to a “buy” rating in a report on Friday, May 18th. Zacks Investment Research raised Editas Medicine from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, May 15th. Chardan Capital decreased their price objective on Editas Medicine from $72.50 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 15th. ValuEngine raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $43.00 price objective (up from $28.00) on shares of Editas Medicine in a report on Wednesday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $46.14.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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