Editas Medicine, Inc. (NASDAQ:EDIT) Short Interest Update

Editas Medicine, Inc. (NASDAQ:EDIT) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 18,760,000 shares, an increase of 14.7% from the March 31st total of 16,360,000 shares. Based on an average trading volume of 1,910,000 shares, the days-to-cover ratio is presently 9.8 days.

Insider Activity

In other news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now directly owns 141,543 shares in the company, valued at $1,333,335.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Baisong Mei sold 20,327 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the sale, the senior vice president now directly owns 141,543 shares in the company, valued at $1,333,335.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Gilmore Neil O’neill sold 77,824 shares of Editas Medicine stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the transaction, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Editas Medicine

Several large investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its holdings in shares of Editas Medicine by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,713 shares of the company’s stock valued at $117,000 after purchasing an additional 6,263 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Editas Medicine by 49.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 57,033 shares of the company’s stock worth $423,000 after purchasing an additional 18,745 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Editas Medicine in the 1st quarter valued at about $1,097,000. Virtu Financial LLC bought a new position in shares of Editas Medicine during the 4th quarter worth approximately $748,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Editas Medicine in the 4th quarter worth approximately $137,000. 71.90% of the stock is currently owned by institutional investors.

Editas Medicine Price Performance

Shares of NASDAQ EDIT traded up $0.05 during mid-day trading on Monday, reaching $5.37. 1,258,966 shares of the company’s stock traded hands, compared to its average volume of 1,810,285. Editas Medicine has a 1-year low of $5.11 and a 1-year high of $11.91. The stock has a market cap of $441.63 million, a P/E ratio of -2.62 and a beta of 2.02. The business has a 50-day simple moving average of $7.46 and a 200 day simple moving average of $8.31.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.29. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The firm had revenue of $60.00 million during the quarter, compared to analyst estimates of $4.84 million. During the same period in the previous year, the company posted ($0.88) EPS. The company’s revenue for the quarter was up 817.4% on a year-over-year basis. Equities research analysts anticipate that Editas Medicine will post -2.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

EDIT has been the subject of several recent analyst reports. Citigroup raised their target price on Editas Medicine from $11.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their price objective on shares of Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Barclays lifted their price target on shares of Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Editas Medicine currently has an average rating of “Moderate Buy” and a consensus price target of $15.00.

Editas Medicine Company Profile

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.