E Fund Management Co. Ltd. Sells 6,321 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

E Fund Management Co. Ltd. lowered its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,134 shares of the company’s stock after selling 6,321 shares during the period. E Fund Management Co. Ltd.’s holdings in Editas Medicine were worth $194,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EDIT. Vanguard Group Inc. raised its position in shares of Editas Medicine by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock worth $66,582,000 after acquiring an additional 370,734 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Editas Medicine by 1,183.6% during the fourth quarter. International Assets Investment Management LLC now owns 288,269 shares of the company’s stock worth $28,457,000 after purchasing an additional 265,812 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Editas Medicine by 32.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 688,964 shares of the company’s stock valued at $5,374,000 after buying an additional 170,694 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Editas Medicine in the 3rd quarter worth approximately $944,000. Finally, Trexquant Investment LP boosted its holdings in Editas Medicine by 135.2% during the third quarter. Trexquant Investment LP now owns 187,509 shares of the company’s stock worth $1,463,000 after buying an additional 107,776 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on EDIT. StockNews.com lowered Editas Medicine from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup lowered their target price on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. Morgan Stanley raised Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 price target on the stock in a research note on Thursday. Finally, Barclays dropped their target price on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.90.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $5.57 on Friday. The stock has a market cap of $458.05 million, a PE ratio of -2.71 and a beta of 2.09. The business’s fifty day moving average price is $6.94 and its two-hundred day moving average price is $8.22. Editas Medicine, Inc. has a one year low of $4.91 and a one year high of $11.91.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) EPS for the quarter, missing the consensus estimate of ($0.63) by ($0.13). The company had revenue of $1.10 million for the quarter, compared to analyst estimates of $11.14 million. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The business’s revenue for the quarter was down 88.9% on a year-over-year basis. During the same period last year, the company posted ($0.71) EPS. As a group, equities research analysts predict that Editas Medicine, Inc. will post -2.61 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the transaction, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total value of $733,102.08. Following the completion of the sale, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

About Editas Medicine

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.