217,785 Shares in Editas Medicine, Inc. $EDIT Bought by Ieq Capital LLC

Ieq Capital LLC bought a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 217,785 shares of the company’s stock, valued at approximately $706,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EDIT. Price T Rowe Associates Inc. MD raised its position in shares of Editas Medicine by 7.2% during the fourth 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. BNP Paribas Financial Markets lifted its holdings in shares of Editas Medicine by 33.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 27,168 shares of the company’s stock valued at $94,000 after purchasing an additional 6,787 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Editas Medicine in the 3rd quarter valued at approximately $36,000. Pallas Capital Advisors LLC acquired a new position in shares of Editas Medicine in the 2nd quarter valued at approximately $38,000. Finally, Captrust Financial Advisors bought a new stake in Editas Medicine during the 2nd quarter worth approximately $26,000. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $3.30 on Friday. The business’s 50 day simple moving average is $2.99 and its 200 day simple moving average is $2.74. Editas Medicine, Inc. has a 52-week low of $1.66 and a 52-week high of $4.54. The firm has a market cap of $506.81 million, a PE ratio of -4.40 and a beta of 2.14.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.12. The firm had revenue of $11.89 million during the quarter, compared to the consensus estimate of $2.85 million. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%. As a group, equities research analysts predict that Editas Medicine, Inc. will post -0.85 EPS for the current year.

Insider Activity at Editas Medicine

In related news, CEO Gilmore Neil O’neill sold 15,380 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer owned 248,313 shares in the company, valued at approximately $670,445.10. This represents a 5.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,503 shares of company stock valued at $57,910 over the last 90 days. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on EDIT shares. Chardan Capital raised their target price on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings raised shares of Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Wall Street Zen raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. LADENBURG THALM/SH SH began coverage on shares of Editas Medicine in a report on Tuesday, August 18th. They set a “buy” rating and a $6.00 price objective on the stock. Finally, TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Editas Medicine 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.