Editas Medicine (NASDAQ:EDIT) CEO Sells $41,526.00 in Stock

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O’neill sold 15,380 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total transaction of $41,526.00. Following the transaction, the chief executive officer directly owned 248,313 shares of the company’s stock, valued at approximately $670,445.10. This trade represents a 5.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Editas Medicine Stock Performance

Shares of EDIT opened at $2.71 on Monday. Editas Medicine, Inc. has a 1 year low of $1.66 and a 1 year high of $4.54. The company has a market cap of $265.33 million, a price-to-earnings ratio of -2.20 and a beta of 2.16. The firm has a fifty day moving average of $2.94 and a 200-day moving average of $2.45.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.04. Editas Medicine had a negative net margin of 281.59% and a negative return on equity of 677.39%. The company had revenue of $2.83 million during the quarter, compared to the consensus estimate of $6.37 million. Analysts predict that Editas Medicine, Inc. will post -1.03 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. JonesTrading raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a report on Monday, April 20th. TD Cowen reissued a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Chardan Capital boosted their price target on shares of Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $5.40.

Institutional Investors Weigh In On Editas Medicine

Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in Editas Medicine in the third quarter worth about $36,000. Captrust Financial Advisors acquired a new stake in Editas Medicine in the second quarter worth about $26,000. Sei Investments Co. acquired a new stake in Editas Medicine in the third quarter worth about $46,000. Abel Hall LLC acquired a new stake in Editas Medicine in the first quarter worth about $36,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Editas Medicine in the third quarter worth about $50,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

Editas Medicine Company Profile

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.