Editas Medicine (NASDAQ:EDIT) CEO Gilmore Neil O’neill Sells 15,380 Shares

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O’neill sold 15,380 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Editas Medicine Trading Down 9.4%

EDIT stock traded down $0.28 on Friday, hitting $2.71. 2,364,330 shares of the company’s stock traded hands, compared to its average volume of 1,958,300. Editas Medicine, Inc. has a 1-year low of $1.66 and a 1-year high of $4.54. The stock has a market cap of $265.33 million, a price-to-earnings ratio of -2.20 and a beta of 2.16. The stock has a fifty day moving average of $2.93 and a 200-day moving average of $2.45.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, May 5th. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.30) by $0.04. Editas Medicine had a negative net margin of 281.59% and a negative return on equity of 677.39%. The business had revenue of $2.83 million during the quarter, compared to analyst estimates of $6.37 million. On average, equities 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 analysts recently commented on the stock. Robert W. Baird set a $6.00 target price on shares of Editas Medicine in a research note on Monday, March 9th. Chardan Capital boosted their price target on shares of Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. TD Cowen restated a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Editas Medicine in a report on Monday, April 20th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.40.

Institutional Trading of Editas Medicine

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. bought a new stake in Editas Medicine in the third quarter worth approximately $36,000. Captrust Financial Advisors bought a new stake in Editas Medicine in the second quarter worth approximately $26,000. Sei Investments Co. bought a new stake in Editas Medicine in the third quarter worth approximately $46,000. Abel Hall LLC bought a new stake in Editas Medicine in the first quarter worth approximately $36,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in Editas Medicine in the third quarter worth approximately $50,000. 71.90% of the stock is owned by institutional investors.

Editas Medicine Company Profile

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.