Motley Fool Asset Management LLC boosted its position in Editas Medicine Inc (NASDAQ:EDIT) by 19.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,093 shares of the company’s stock after purchasing an additional 5,800 shares during the period. Motley Fool Asset Management LLC’s holdings in Editas Medicine were worth $858,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of EDIT. We Are One Seven LLC acquired a new position in Editas Medicine in the 4th quarter worth about $40,000. Winslow Evans & Crocker Inc. increased its holdings in Editas Medicine by 398.7% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 1,576 shares of the company’s stock worth $40,000 after purchasing an additional 1,260 shares in the last quarter. Joseph P. Lucia & Associates LLC acquired a new position in Editas Medicine in the 1st quarter worth about $65,000. Bronfman E.L. Rothschild L.P. increased its holdings in Editas Medicine by 48.7% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 3,055 shares of the company’s stock worth $70,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Editas Medicine in the 4th quarter worth about $109,000. 71.72% of the stock is owned by institutional investors and hedge funds.
In related news, insider Vickesh Myer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $24.50, for a total transaction of $73,500.00. Following the completion of the sale, the insider now owns 3,000 shares of the company’s stock, valued at $73,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jessica Hopfield bought 10,200 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were acquired at an average cost of $23.94 per share, with a total value of $244,188.00. Following the purchase, the director now directly owns 16,900 shares of the company’s stock, valued at $404,586. The disclosure for this purchase can be found here. Company insiders own 0.94% of the company’s stock.
A number of brokerages have issued reports on EDIT. Zacks Investment Research cut Editas Medicine from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Oppenheimer reaffirmed a “hold” rating on shares of Editas Medicine in a report on Wednesday, May 8th. BidaskClub cut Editas Medicine from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Evercore ISI assumed coverage on Editas Medicine in a research note on Thursday, April 11th. They issued an “outperform” rating for the company. Finally, ValuEngine raised Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $37.80.
NASDAQ EDIT opened at $22.82 on Friday. Editas Medicine Inc has a one year low of $17.80 and a one year high of $41.43. The company has a market cap of $1.12 billion, a P/E ratio of -9.79 and a beta of 2.48. The company has a quick ratio of 10.44, a current ratio of 8.46 and a debt-to-equity ratio of 0.07.
Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, May 7th. The company reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.03). Editas Medicine had a negative return on equity of 47.64% and a negative net margin of 359.93%. The business had revenue of $2.07 million for the quarter, compared to analyst estimates of $7.62 million. During the same period in the prior year, the business earned ($0.67) EPS. The company’s revenue for the quarter was down 47.3% on a year-over-year basis. As a group, research analysts predict that Editas Medicine Inc will post -2.52 EPS for the current fiscal year.
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Editas Medicine Company Profile
Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.
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