Key Points
- Editas Medicine CEO Gilmore O’Neill sold 5,124 shares for approximately $15,577 at an average price of $3.04. The Rule 10b5-1 transaction covered tax obligations from vested equity awards, leaving him with 243,189 shares.
- Editas shares opened at $3.23, with a market capitalization of about $496 million and a 52-week range of $1.66 to $4.54. The company recently beat quarterly EPS and revenue estimates, although it remains unprofitable.
- Institutional investors own 71.9% of the stock, while analysts maintain a generally positive outlook: four rate it Buy and one Sell, producing a Moderate Buy consensus and a $6.00 average price target.
Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) CEO Gilmore O'neill sold 5,124 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $3.04, for a total value of $15,576.96. Following the completion of the transaction, the chief executive officer directly owned 243,189 shares of the company's stock, valued at approximately $739,294.56. This trade represents a 2.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.
Editas Medicine Stock Up 4.9%
Editas Medicine stock opened at $3.23 on Friday. The business's 50-day moving average price is $3.03 and its 200 day moving average price is $2.79. The firm has a market cap of $496.06 million, a price-to-earnings ratio of -4.31 and a beta of 2.09. 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 released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.12. The business had revenue of $11.89 million for the quarter, compared to analyst estimates of $2.85 million. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%. Equities analysts expect that Editas Medicine, Inc. will post -0.8 EPS for the current year.
Institutional Investors Weigh In On Editas Medicine
Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Editas Medicine in the second quarter valued at approximately $34,312,000. ADAR1 Capital Management LLC purchased a new position in Editas Medicine in the 2nd quarter valued at $28,800,000. Renaissance Technologies LLC lifted its holdings in Editas Medicine by 30.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company's stock valued at $9,811,000 after purchasing an additional 932,382 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Editas Medicine by 122.2% during 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Editas Medicine by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 2,284,740 shares of the company's stock worth $4,685,000 after buying an additional 244,574 shares in the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. LADENBURG THALM/SH SH started coverage on shares of Editas Medicine in a research note on Tuesday, August 18th. They set a "buy" rating and a $6.00 target price on the stock. TD Cowen reissued a "buy" rating on shares of Editas Medicine in a report on Wednesday, May 27th. Weiss Ratings raised Editas Medicine from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen upgraded Editas Medicine from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $6.00.
View Our Latest Stock Report on Editas Medicine
Editas Medicine Company Profile
(
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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