Editas Medicine (EDIT) Insider Sells $350,000.00 in Stock

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.

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

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