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 company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $2.70, for a total transaction of $41,526.00. Following the sale, the chief executive officer directly owned 248,313 shares of the company’s stock, valued at approximately $670,445.10. This represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Editas Medicine Price Performance

Shares of NASDAQ EDIT traded down $0.28 during trading hours on Friday, hitting $2.71. 2,364,330 shares of the stock were exchanged, compared to its average volume of 1,958,300. The company’s 50 day moving average is $2.93 and its 200 day moving average is $2.45. The firm has a market capitalization of $265.33 million, a P/E ratio of -2.20 and a beta of 2.16. Editas Medicine, Inc. has a one year low of $1.66 and a one year high of $4.54.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EDIT. JonesTrading raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Tuesday, March 10th. TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Editas Medicine in a report on Monday, April 20th. Wall Street Zen cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. Finally, Chardan Capital increased their price objective on shares of Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.

Institutional Investors Weigh In On Editas Medicine

Hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Editas Medicine during the 4th quarter worth about $1,166,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Editas Medicine by 15.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 279,534 shares of the company’s stock worth $573,000 after purchasing an additional 37,843 shares in the last quarter. Green Alpha Advisors LLC increased its position in shares of Editas Medicine by 10.0% during the 4th quarter. Green Alpha Advisors LLC now owns 161,120 shares of the company’s stock worth $330,000 after purchasing an additional 14,708 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Editas Medicine during the 3rd quarter worth about $253,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in shares of Editas Medicine during the 3rd quarter worth about $50,000. Institutional investors and hedge funds own 71.90% of the company’s stock.

About Editas Medicine

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.