Editas Medicine Inc (EDIT) Sees Large Increase in Short Interest

Editas Medicine Inc (NASDAQ:EDIT) saw a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 6,779,942 shares, a growth of 30.1% from the January 15th total of 5,212,649 shares. Approximately 14.8% of the shares of the company are sold short. Based on an average trading volume of 1,560,927 shares, the short-interest ratio is currently 4.3 days.

Several analysts recently commented on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Editas Medicine in a research note on Thursday, January 10th. BTIG Research assumed coverage on shares of Editas Medicine in a research note on Thursday. They issued a “buy” rating and a $30.00 price objective for the company. BidaskClub cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, December 20th. ValuEngine cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, December 21st. Finally, SunTrust Banks reiterated a “buy” rating on shares of Editas Medicine in a research note on Monday, December 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.50.

Shares of NASDAQ EDIT traded up $0.22 during trading on Monday, reaching $19.97. 531,083 shares of the stock were exchanged, compared to its average volume of 1,148,200. Editas Medicine has a twelve month low of $17.80 and a twelve month high of $45.02. The company has a current ratio of 13.14, a quick ratio of 13.13 and a debt-to-equity ratio of 0.15. The stock has a market cap of $944.25 million, a P/E ratio of -6.70 and a beta of 2.56.

In other news, CFO Andrew A. F. Hack sold 6,895 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $21.39, for a total value of $147,484.05. Following the completion of the sale, the chief financial officer now owns 6,895 shares in the company, valued at approximately $147,484.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Vickesh Myer sold 4,000 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $26.50, for a total transaction of $106,000.00. Following the completion of the sale, the chief technology officer now owns 2,700 shares of the company’s stock, valued at approximately $71,550. The disclosure for this sale can be found here. Insiders sold a total of 61,179 shares of company stock valued at $1,623,659 in the last 90 days. Company insiders own 5.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. We Are One Seven LLC acquired a new stake in Editas Medicine in the 4th quarter valued at about $40,000. Ancora Advisors LLC bought a new stake in Editas Medicine during the third quarter worth approximately $127,000. TRUE Private Wealth Advisors bought a new stake in Editas Medicine during the third quarter worth approximately $137,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Editas Medicine by 34.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,160 shares of the company’s stock worth $113,000 after purchasing an additional 1,314 shares during the period. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Editas Medicine in the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 69.12% of the company’s stock.

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About Editas Medicine

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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