BlackRock Inc. Raises Position in Editas Medicine Inc (EDIT)

BlackRock Inc. lifted its stake in Editas Medicine Inc (NASDAQ:EDIT) by 7.1% in the first quarter, HoldingsChannel reports. The firm owned 2,863,624 shares of the company’s stock after purchasing an additional 191,068 shares during the quarter. BlackRock Inc. owned about 0.06% of Editas Medicine worth $94,930,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Farallon Capital Management LLC acquired a new stake in Editas Medicine during the 4th quarter worth $15,826,000. UBS Asset Management Americas Inc. acquired a new stake in Editas Medicine during the 4th quarter worth $7,566,000. Arrowstreet Capital Limited Partnership grew its holdings in Editas Medicine by 889.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 174,135 shares of the company’s stock worth $5,351,000 after acquiring an additional 156,535 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Editas Medicine by 33.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 368,323 shares of the company’s stock worth $11,319,000 after acquiring an additional 92,606 shares during the period. Finally, Guggenheim Capital LLC acquired a new stake in Editas Medicine during the 4th quarter worth $2,319,000. 65.27% of the stock is owned by institutional investors and hedge funds.

EDIT has been the subject of a number of analyst reports. BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Friday, April 13th. ValuEngine raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, May 15th. Chardan Capital decreased their price target on shares of Editas Medicine from $72.50 to $55.00 and set a “buy” rating for the company in a report on Tuesday, May 15th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target (up previously from $28.00) on shares of Editas Medicine in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Editas Medicine currently has a consensus rating of “Buy” and an average price target of $46.14.

In related news, CFO Andrew A. F. Hack sold 10,000 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $38.63, for a total value of $386,300.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Katrine Bosley sold 8,333 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $32.16, for a total transaction of $267,989.28. The disclosure for this sale can be found here. Insiders sold a total of 68,999 shares of company stock valued at $2,478,873 in the last three months. 5.20% of the stock is owned by company insiders.

Shares of Editas Medicine opened at $35.83 on Friday, MarketBeat Ratings reports. Editas Medicine Inc has a 12-month low of $15.28 and a 12-month high of $45.02. The firm has a market capitalization of $1.69 billion, a PE ratio of -12.02 and a beta of 3.73. 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 announced its quarterly earnings results on Thursday, May 3rd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.15. Editas Medicine had a negative net margin of 707.98% and a negative return on equity of 58.73%. The company had revenue of $3.90 million during the quarter, compared to analyst estimates of $4.04 million. During the same quarter in the previous year, the business earned ($0.85) EPS. The firm’s revenue was up 473.5% on a year-over-year basis. equities analysts expect that Editas Medicine Inc will post -2.96 EPS for the current fiscal year.

Editas Medicine Company Profile

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.

Want to see what other hedge funds are holding EDIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Editas Medicine Inc (NASDAQ:EDIT).

Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply