Northern Trust Corp increased its stake in shares of Editas Medicine Inc (NASDAQ:EDIT) by 12.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 419,861 shares of the company’s stock after purchasing an additional 46,354 shares during the period. Northern Trust Corp owned 0.89% of Editas Medicine worth $13,917,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in EDIT. Financial Advocates Investment Management acquired a new stake in Editas Medicine in the 4th quarter valued at about $319,000. Slow Capital Inc. acquired a new stake in Editas Medicine in the 4th quarter valued at about $391,000. Millennium Management LLC raised its holdings in Editas Medicine by 13.2% in the 4th quarter. Millennium Management LLC now owns 422,757 shares of the company’s stock valued at $12,991,000 after acquiring an additional 49,336 shares during the last quarter. Deutsche Bank AG raised its holdings in Editas Medicine by 39.5% in the 4th quarter. Deutsche Bank AG now owns 145,526 shares of the company’s stock valued at $4,470,000 after acquiring an additional 41,206 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new stake in Editas Medicine in the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Editas Medicine opened at $35.83 on Monday, MarketBeat.com reports. Editas Medicine Inc has a 1-year low of $15.28 and a 1-year high of $45.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.71 and a current ratio of 11.71.
A number of research firms have commented on EDIT. Barclays increased their price objective on shares of Editas Medicine from $28.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, March 7th. Morgan Stanley reissued an “equal weight” rating and issued a $43.00 price target (up previously from $28.00) on shares of Editas Medicine in a research note on Wednesday, March 14th. BidaskClub raised shares of Editas Medicine from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 21st. Zacks Investment Research raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Finally, Chardan Capital dropped their price target on shares of Editas Medicine from $72.50 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $46.14.
In related news, insider Katrine Bosley sold 8,333 shares of the stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $31.95, for a total transaction of $266,239.35. Following the completion of the transaction, the insider now owns 1,301,965 shares of the company’s stock, valued at approximately $41,597,781.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vickesh Myer sold 14,000 shares of the stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $38.26, for a total transaction of $535,640.00. Following the transaction, the insider now directly owns 4,300 shares of the company’s stock, valued at approximately $164,518. The disclosure for this sale can be found here. Insiders have sold a total of 60,666 shares of company stock valued at $2,210,884 in the last ninety days. 5.20% of the stock is currently owned by corporate insiders.
Editas Medicine Company 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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