Editas Medicine (NASDAQ:EDIT) EVP Sells $13,157.76 in Stock

Editas Medicine, Inc. (NASDAQ:EDIT) EVP Linda Burkly sold 4,928 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $2.67, for a total value of $13,157.76. Following the completion of the sale, the executive vice president directly owned 62,369 shares of the company’s stock, valued at approximately $166,525.23. This trade represents a 7.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 Wednesday, June 3rd, Linda Burkly sold 731 shares of Editas Medicine stock. The shares were sold at an average price of $2.70, for a total value of $1,973.70.

Editas Medicine Stock Performance

EDIT traded down $0.01 on Wednesday, hitting $2.61. 1,521,336 shares of the company were exchanged, compared to its average volume of 2,057,180. The firm has a fifty day simple moving average of $2.95 and a two-hundred day simple moving average of $2.61. The stock has a market capitalization of $255.55 million, a PE ratio of -2.12 and a beta of 2.10. Editas Medicine, Inc. has a 12 month low of $1.66 and a 12 month high of $4.54.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its holdings in Editas Medicine by 138.0% in the 4th quarter. Renaissance Technologies LLC now owns 3,039,778 shares of the company’s stock worth $6,232,000 after purchasing an additional 1,762,378 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Editas Medicine by 122.2% in 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 period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Editas Medicine by 761.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 800,023 shares of the company’s stock valued at $2,776,000 after purchasing an additional 707,181 shares in the last quarter. Two Sigma Investments LP increased its position in shares of Editas Medicine by 63.3% during the third quarter. Two Sigma Investments LP now owns 1,584,155 shares of the company’s stock valued at $5,497,000 after buying an additional 614,229 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in shares of Editas Medicine during the fourth quarter valued at about $1,166,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EDIT. Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research note on Friday, July 17th. Chardan Capital increased their target price on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research note on Wednesday, May 27th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Editas Medicine presently has an average rating of “Moderate Buy” and a consensus price target of $5.40.

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.