Key Points
- Editas Medicine EVP Linda Burkly sold 4,928 shares for $13,157.76 at an average price of $2.67. The transaction was conducted under a Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving her with 62,369 shares.
- Editas shares opened at $2.60, down 0.8%, with a market capitalization of approximately $254.6 million. The company reported a quarterly loss of $0.26 per share, better than estimates, but revenue of $2.83 million fell short of expectations.
- Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and a $5.40 price target, despite some recent “Sell” ratings. Institutional investors own 71.9% of the company.
Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) EVP Linda Burkly sold 4,928 shares of Editas Medicine stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $2.67, for a total transaction of $13,157.76. Following the completion of the transaction, the executive vice president directly owned 62,369 shares in the company, valued at $166,525.23. This represents a 7.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Linda Burkly also recently made the following trade(s):
- On Wednesday, June 3rd, Linda Burkly sold 731 shares of Editas Medicine stock. The shares were sold at an average price of $2.70, for a total value of $1,973.70.
Editas Medicine Stock Down 0.8%
Shares of NASDAQ EDIT opened at $2.60 on Thursday. Editas Medicine, Inc. has a 12 month low of $1.66 and a 12 month high of $4.54. The company has a market cap of $254.57 million, a price-to-earnings ratio of -2.11 and a beta of 2.10. The business has a fifty day simple moving average of $2.95 and a 200-day simple moving average of $2.61.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.30) by $0.04. The firm had revenue of $2.83 million during the quarter, compared to analyst estimates of $6.37 million. Editas Medicine had a negative net margin of 281.59% and a negative return on equity of 677.39%. As a group, sell-side analysts expect that Editas Medicine, Inc. will post -1.03 EPS for the current fiscal year.
Institutional Investors Weigh In On Editas Medicine
Hedge funds have recently modified their holdings of the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Editas Medicine by 122.2% in 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 worth $3,016,000 after acquiring an additional 1,430,000 shares during the last quarter. Acadian Asset Management LLC raised its stake in Editas Medicine by 288.5% during the 1st quarter. Acadian Asset Management LLC now owns 752,162 shares of the company's stock valued at $869,000 after purchasing an additional 558,567 shares during the last quarter. Geode Capital Management LLC raised its stake in Editas Medicine by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company's stock valued at $4,323,000 after purchasing an additional 20,521 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Editas Medicine by 15.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company's stock valued at $2,345,000 after purchasing an additional 140,916 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in Editas Medicine by 500.0% in the 2nd quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company's stock valued at $264,000 after purchasing an additional 100,000 shares during the period. 71.90% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on EDIT shares. Wall Street Zen cut Editas Medicine from a "hold" rating to a "sell" rating in a research note on Sunday, May 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Editas Medicine in a research report on Friday, July 17th. TD Cowen reiterated a "buy" rating on shares of Editas Medicine in a research note on Wednesday, May 27th. Finally, Chardan Capital boosted their target price on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.40.
View Our Latest Stock Analysis on EDIT
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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