Fmr LLC decreased its position in Editas Medicine Inc (NASDAQ:EDIT) by 28.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,894,184 shares of the company’s stock after selling 1,148,473 shares during the period. Fmr LLC owned approximately 6.07% of Editas Medicine worth $103,698,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Asset Dedication LLC boosted its stake in Editas Medicine by 4,400.0% in the 2nd quarter. Asset Dedication LLC now owns 4,500 shares of the company’s stock worth $161,000 after purchasing an additional 4,400 shares in the last quarter. Reynders McVeigh Capital Management LLC bought a new position in Editas Medicine in the 2nd quarter worth about $202,000. Telos Capital Management Inc. bought a new position in Editas Medicine in the 2nd quarter worth about $203,000. Xact Kapitalforvaltning AB bought a new position in Editas Medicine in the 2nd quarter worth about $226,000. Finally, Perigon Wealth Management LLC bought a new position in Editas Medicine in the 2nd quarter worth about $232,000. Institutional investors own 67.31% of the company’s stock.
In other news, CEO Katrine Bosley sold 12,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $32.35, for a total value of $388,200.00. Following the transaction, the chief executive officer now owns 1,254,179 shares in the company, valued at approximately $40,572,690.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Vickesh Myer sold 3,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $29.65, for a total transaction of $88,950.00. Following the completion of the transaction, the chief technology officer now owns 3,000 shares in the company, valued at approximately $88,950. The disclosure for this sale can be found here. Insiders have sold a total of 86,000 shares of company stock worth $2,601,360 in the last 90 days. Company insiders own 5.20% of the company’s stock.
Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Wednesday, November 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.72) by $0.40. The business had revenue of $14.52 million for the quarter, compared to analysts’ expectations of $9.83 million. Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The business’s revenue for the quarter was up 131.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.64) EPS. As a group, analysts expect that Editas Medicine Inc will post -3 EPS for the current year.
A number of brokerages recently issued reports on EDIT. BidaskClub cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Guggenheim assumed coverage on shares of Editas Medicine in a research note on Tuesday, October 9th. They set a “neutral” rating on the stock. JPMorgan Chase & Co. set a $36.00 target price on shares of Editas Medicine and gave the company a “hold” rating in a research note on Monday, August 6th. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, Raymond James assumed coverage on shares of Editas Medicine in a research note on Friday, September 21st. They set an “outperform” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Editas Medicine presently has an average rating of “Hold” and a consensus target price of $46.50.
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Editas Medicine Profile
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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