Key Points
- CEO Gilmore O’Neill sold 21,164 Editas Medicine shares for about $51,217, reducing his direct stake by 7.38%. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
- Editas reported quarterly EPS of -$0.15, beating the consensus estimate of -$0.19, and revenue of $10.37 million versus analysts’ $4.46 million estimate.
- The stock traded at $2.17 in the article, while analysts’ average rating was “Moderate Buy” with a consensus price target of $5.83.
Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) EVP Linda Burkly sold 7,814 shares of the firm's stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $2.42, for a total transaction of $18,909.88. Following the completion of the transaction, the executive vice president directly owned 70,379 shares in the company, valued at $170,317.18. This trade represents a 9.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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.
Linda Burkly also recently made the following trade(s):
- On Thursday, September 3rd, Linda Burkly sold 709 shares of Editas Medicine stock. The stock was sold at an average price of $3.04, for a total transaction of $2,155.36.
Editas Medicine Trading Up 1.4%
Shares of EDIT traded up $0.03 on Friday, reaching $2.17. 2,785,410 shares of the company's stock were exchanged, compared to its average volume of 2,235,164. The stock has a market capitalization of $334.92 million, a P/E ratio of -3.50 and a beta of 2.08. The business has a 50 day moving average price of $2.63 and a two-hundred day moving average price of $2.69. Editas Medicine, Inc. has a 12 month low of $1.66 and a 12 month high of $3.94.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.04. Editas Medicine had a negative net margin of 144.95% and a negative return on equity of 130.43%. The business had revenue of $10.37 million for the quarter, compared to analyst estimates of $4.46 million. Equities research analysts predict that Editas Medicine, Inc. will post -0.79 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages have commented on EDIT. Guggenheim upgraded shares of Editas Medicine from a "neutral" rating to a "buy" rating and set a $5.00 target price for the company in a research report on Wednesday, September 23rd. Ladenburg Thalmann & Co. Inc. started coverage on Editas Medicine in a research report on Tuesday, August 18th. They issued a "buy" rating and a $6.00 price target on the stock. Wells Fargo & Company raised Editas Medicine from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $4.00 to $6.00 in a research note on Thursday, October 8th. Wall Street Zen upgraded Editas Medicine from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Editas Medicine in a research note on Wednesday, November 4th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Editas Medicine has a consensus rating of "Moderate Buy" and a consensus target price of $5.83.
View Our Latest Analysis on Editas Medicine
Institutional Investors Weigh In On Editas Medicine
Large investors have recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in Editas Medicine by 48.5% in the third quarter. Marshall Wace LLP now owns 3,024,503 shares of the company's stock worth $7,773,000 after purchasing an additional 987,216 shares during the period. Empowered Funds LLC acquired a new position in shares of Editas Medicine in the 3rd quarter valued at $318,000. HighVista Strategies LLC bought a new stake in shares of Editas Medicine in the 3rd quarter valued at $2,845,000. State Street Corp increased its position in shares of Editas Medicine by 60.6% in the 3rd quarter. State Street Corp now owns 7,038,580 shares of the company's stock valued at $18,089,000 after buying an additional 2,654,974 shares in the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Editas Medicine in the 3rd quarter valued at $31,000. Institutional investors own 71.90% of the company's stock.
About Editas Medicine
(
Get Free Report)
Editas Medicine, Inc. is a biotechnology company developing genome-editing medicines for people with serious diseases. Its research uses CRISPR-based technologies, including CRISPR-Cas9 and Cas12a, to make targeted changes to DNA. Founded in 2013 and based in Cambridge, Massachusetts, the company conducts research and clinical development of potential treatments for genetic disorders. Its work has included approaches designed to edit genes in a patient's cells, either outside the body or directly within the body.
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