Insider Selling: Editas Medicine (NASDAQ:EDIT) CEO Sells $10,895.88 in Stock

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O’neill sold 5,394 shares of Editas Medicine stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $2.02, for a total value of $10,895.88. Following the sale, the chief executive officer owned 263,693 shares of the company’s stock, valued at approximately $532,659.86. This trade represents a 2.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Editas Medicine Trading Up 5.5%

EDIT stock opened at $2.00 on Friday. The company’s 50 day moving average is $2.00 and its 200 day moving average is $2.58. The stock has a market cap of $195.24 million, a price-to-earnings ratio of -0.84 and a beta of 2.16. Editas Medicine, Inc. has a 1-year low of $0.91 and a 1-year high of $4.54.

Hedge Funds Weigh In On Editas Medicine

A number of large investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Editas Medicine in the fourth quarter worth $89,000. Quadrature Capital Ltd bought a new position in Editas Medicine in the 4th quarter worth $220,000. Man Group plc lifted its position in shares of Editas Medicine by 58.8% in the 4th quarter. Man Group plc now owns 79,170 shares of the company’s stock worth $162,000 after purchasing an additional 29,326 shares during the period. Eversept Partners LP purchased a new stake in shares of Editas Medicine in the 4th quarter worth about $596,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Editas Medicine by 7.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,397 shares of the company’s stock worth $190,000 after purchasing an additional 6,177 shares during the period. 71.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on EDIT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research note on Wednesday, January 21st. Chardan Capital raised Editas Medicine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.00.

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.