IHT Wealth Management LLC acquired a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 70 shares of the company’s stock, valued at approximately $107,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Editas Medicine by 7.3% in the first quarter. FMR LLC now owns 5,901,489 shares of the company’s stock valued at $131,721,000 after buying an additional 403,099 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Editas Medicine by 12.5% during the second quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock worth $36,533,000 after purchasing an additional 241,973 shares during the period. State Street Corp increased its stake in shares of Editas Medicine by 305.4% during the second quarter. State Street Corp now owns 537,640 shares of the company’s stock worth $9,022,000 after purchasing an additional 405,022 shares during the period. ARK Investment Management LLC increased its stake in shares of Editas Medicine by 121.9% during the second quarter. ARK Investment Management LLC now owns 510,187 shares of the company’s stock worth $8,561,000 after purchasing an additional 280,265 shares during the period. Finally, Clough Capital Partners L P increased its stake in shares of Editas Medicine by 678.0% during the first quarter. Clough Capital Partners L P now owns 392,087 shares of the company’s stock worth $8,751,000 after purchasing an additional 341,687 shares during the period. 69.37% of the stock is owned by institutional investors.
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A number of research firms have commented on EDIT. SunTrust Banks, Inc. began coverage on Editas Medicine in a research note on Thursday, July 13th. They set a “hold” rating and a $17.00 price objective on the stock. Zacks Investment Research lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Tuesday. Morgan Stanley reissued an “equal weight” rating and set a $28.00 price objective (up previously from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a report on Tuesday, July 18th. Finally, Barclays PLC started coverage on Editas Medicine in a report on Wednesday, September 6th. They set an “overweight” rating and a $28.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.88.
Editas Medicine, Inc. (NASDAQ EDIT) traded down 5.58% during trading on Friday, reaching $23.50. The company had a trading volume of 289,501 shares. The firm’s 50 day moving average price is $22.76 and its 200 day moving average price is $22.76. The firm’s market capitalization is $961.76 million. Editas Medicine, Inc. has a 12-month low of $12.43 and a 12-month high of $29.20.
Editas Medicine (NASDAQ:EDIT) last released its earnings results on Wednesday, August 9th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.01). The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $2.20 million. Editas Medicine had a negative net margin of 2,091.36% and a negative return on equity of 67.75%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.54) EPS. Equities research analysts forecast that Editas Medicine, Inc. will post ($2.88) EPS for the current year.
In other news, insider Katrine Bosley sold 8,333 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $24.78, for a total value of $206,491.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 51,665 shares of company stock worth $1,083,165. Insiders own 19.40% of the company’s stock.
About Editas Medicine
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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