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.
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