Key Points
- Editas Medicine CEO Gilmore Neil O'neill sold 15,380 shares on June 3 at an average price of $2.70, totaling about $41,526. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- The transaction reduced O'neill’s ownership by 5.83%, leaving him with 248,313 shares valued at roughly $670,445.
- The company recently reported a smaller-than-expected loss of ($0.26) EPS but missed revenue estimates, while analysts remain mixed with an average Moderate Buy rating and a $5.40 price target.
Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) CEO Gilmore Neil O'neill sold 15,380 shares of the company's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $2.70, for a total transaction of $41,526.00. Following the transaction, the chief executive officer owned 248,313 shares of the company's stock, valued at $670,445.10. This trade represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Editas Medicine Stock Performance
Shares of NASDAQ:EDIT opened at $2.71 on Friday. The company has a fifty day moving average of $2.94 and a 200-day moving average of $2.45. The company has a market capitalization of $265.34 million, a PE ratio of -2.20 and a beta of 2.16. Editas Medicine, Inc. has a 52-week low of $1.66 and a 52-week high of $4.54.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.04. The company had revenue of $2.83 million during the quarter, compared to the consensus estimate of $6.37 million. Editas Medicine had a negative net margin of 281.59% and a negative return on equity of 677.39%. On average, equities analysts forecast that Editas Medicine, Inc. will post -1.03 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the stock. Wall Street Zen cut shares of Editas Medicine from a "hold" rating to a "sell" rating in a research note on Sunday, May 10th. Weiss Ratings reissued a "sell (e+)" rating on shares of Editas Medicine in a research note on Monday, April 20th. Robert W. Baird set a $6.00 price objective on shares of Editas Medicine in a research note on Monday, March 9th. Chardan Capital boosted their price objective on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, JonesTrading raised shares of Editas Medicine from a "hold" rating to a "buy" rating and set a $8.00 price objective on the stock in a research note on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $5.40.
Read Our Latest Stock Report on EDIT
Institutional Trading of Editas Medicine
Several institutional investors have recently modified their holdings of EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Editas Medicine by 122.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company's stock valued at $3,016,000 after acquiring an additional 1,430,000 shares during the last quarter. Acadian Asset Management LLC boosted its position in Editas Medicine by 288.5% during the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock valued at $869,000 after acquiring an additional 558,567 shares during the last quarter. 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. JPMorgan Chase & Co. boosted its position in Editas Medicine by 15.2% during the second quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company's stock valued at $2,345,000 after acquiring an additional 140,916 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Editas Medicine by 500.0% during the second quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company's stock valued at $264,000 after acquiring an additional 100,000 shares during the last quarter. Institutional investors own 71.90% of the company's stock.
About Editas Medicine
(
Get Free Report)
Editas Medicine is a clinical-stage biotechnology company focused on translating the power of gene editing into a new class of transformative genomic medicines. Founded in 2013 and headquartered in Cambridge, Massachusetts, the company leverages proprietary CRISPR/Cas9 and CRISPR/Cas12a (Cpf1) platforms to develop therapies aimed at correcting disease-causing genetic mutations. Editas Medicine's research and development efforts span multiple therapeutic areas, including inherited retinal diseases, hemoglobinopathies, and oncology.
The company's pipeline includes EDIT-101, a lead candidate designed to treat Leber congenital amaurosis type 10 (LCA10), which has entered early-stage clinical trials, and EDIT-301, targeting sickle cell disease and β-thalassemia using an ex vivo editing approach.
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