Kevin Bitterman Sells 88,900 Shares of Editas Medicine Inc. (EDIT) Stock
Editas Medicine Inc. (NASDAQ:EDIT) Director Kevin Bitterman sold 88,900 shares of the business’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $16.96, for a total value of $1,507,744.00. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Editas Medicine Inc. (NASDAQ:EDIT) opened at 15.66 on Friday. Editas Medicine Inc. has a one year low of $12.43 and a one year high of $43.99. The firm’s market capitalization is $558.03 million. The firm’s 50-day moving average price is $14.34 and its 200 day moving average price is $22.32.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.05. Editas Medicine had a negative return on equity of 59.22% and a negative net margin of 1,184.46%. The company had revenue of $1 million for the quarter, compared to the consensus estimate of $1 million. The company’s revenue for the quarter was up 49.3% compared to the same quarter last year. On average, equities analysts anticipate that Editas Medicine Inc. will post ($2.49) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Flagship Ventures Fund IV General Partner LLC acquired a new stake in shares of Editas Medicine during the second quarter worth about $120,910,000. Deerfield Management Co. acquired a new stake in shares of Editas Medicine during the first quarter worth about $59,043,000. Price T Rowe Associates Inc. MD increased its stake in shares of Editas Medicine by 32.5% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,874,396 shares of the company’s stock worth $25,267,000 after buying an additional 460,280 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of Editas Medicine by 159.0% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 170,739 shares of the company’s stock worth $2,302,000 after buying an additional 104,808 shares during the period. Finally, Credit Suisse AG acquired a new stake in shares of Editas Medicine during the third quarter worth about $1,150,000. Institutional investors own 61.14% of the company’s stock.
EDIT has been the topic of a number of research reports. Zacks Investment Research upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Thursday, November 10th. Jefferies Group restated a “buy” rating on shares of Editas Medicine in a research report on Monday, August 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Editas Medicine currently has a consensus rating of “Buy” and an average price target of $30.75.
About Editas Medicine
Editas Medicine, Inc, formerly Gengine, Inc, is a genome editing company. The Company is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR)/CRISPR associated protein 9 (Cas9) technology.
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