Key Points
- Insider sale: CEO Gilmore Neil O'Neill sold 5,603 shares on Dec. 3 at an average price of $2.15 for $12,046.45, trimming his stake by 2.04% to 269,087 shares.
- Market snapshot: Editas shares traded around $2.44 mid-day (up $0.01) with 291,567 shares changing hands versus an average volume of ~2.72M; the stock has a 12‑month range of $0.91–$4.54 and a market cap of about $237.7M.
- Financials and sentiment: The company beat last-quarter EPS estimates (‑$0.28 vs. ‑$0.38) and revenue came in at $7.54M, but Editas remains unprofitable with wide negative margins; analysts hold a consensus "Hold" rating with an average target of $4.29 and institutional investors own ~71.9% of the shares.
Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) CEO Gilmore Neil O'neill sold 5,603 shares of the company's stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $2.15, for a total transaction of $12,046.45. Following the completion of the sale, the chief executive officer owned 269,087 shares of the company's stock, valued at approximately $578,537.05. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Editas Medicine Trading Up 0.2%
Shares of NASDAQ EDIT traded up $0.01 during mid-day trading on Friday, reaching $2.44. 291,567 shares of the company's stock were exchanged, compared to its average volume of 2,720,295. Editas Medicine, Inc. has a twelve month low of $0.91 and a twelve month high of $4.54. The firm has a market capitalization of $237.70 million, a price-to-earnings ratio of -1.02 and a beta of 2.44. The business has a fifty day simple moving average of $3.11 and a 200 day simple moving average of $2.70.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its earnings results on Monday, November 10th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.10. Editas Medicine had a negative net margin of 430.84% and a negative return on equity of 277.29%. The firm had revenue of $7.54 million for the quarter, compared to the consensus estimate of $4.95 million. Equities research analysts predict that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.
Institutional Trading of Editas Medicine
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Editas Medicine by 122.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company's stock worth $3,016,000 after purchasing an additional 1,430,000 shares during the period. Geode Capital Management LLC boosted its position in Editas Medicine by 1.1% during the second quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company's stock valued at $4,323,000 after acquiring an additional 20,521 shares during the last quarter. Two Sigma Investments LP grew its holdings in Editas Medicine by 63.3% during the 3rd quarter. Two Sigma Investments LP now owns 1,584,155 shares of the company's stock worth $5,497,000 after acquiring an additional 614,229 shares during the period. JPMorgan Chase & Co. raised its position in shares of Editas Medicine by 15.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company's stock worth $2,345,000 after acquiring an additional 140,916 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Editas Medicine by 761.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 800,023 shares of the company's stock valued at $2,776,000 after purchasing an additional 707,181 shares during the period. Institutional investors and hedge funds own 71.90% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on EDIT shares. Wells Fargo & Company boosted their price target on Editas Medicine from $3.00 to $4.00 and gave the company an "equal weight" rating in a report on Wednesday, September 3rd. Wall Street Zen upgraded shares of Editas Medicine from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. Weiss Ratings reissued a "sell (e+)" rating on shares of Editas Medicine in a report on Wednesday, October 8th. HC Wainwright restated a "buy" rating and issued a $5.00 price target on shares of Editas Medicine in a research note on Friday, September 5th. Finally, Chardan Capital raised shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Editas Medicine currently has a consensus rating of "Hold" and an average target price of $4.29.
Read Our Latest Stock Report on Editas Medicine
Editas Medicine Company Profile
(
Get Free Report)
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.
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