Editas Medicine Inc. (NASDAQ:EDIT) major shareholder Polaris Venture Management Co. sold 12,819 shares of the company’s stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $15.77, for a total value of $202,155.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Polaris Venture Management Co. also recently made the following trade(s):

  • On Thursday, September 8th, Polaris Venture Management Co. sold 500,000 shares of Editas Medicine stock. The stock was sold at an average price of $16.80, for a total value of $8,400,000.00.

Editas Medicine Inc. (NASDAQ:EDIT) remained flat at $15.68 during trading on Thursday. 191,625 shares of the company were exchanged. Editas Medicine Inc. has a 12-month low of $12.43 and a 12-month high of $43.99. The stock’s 50-day moving average price is $14.53 and its 200 day moving average price is $21.81. The company’s market cap is $558.74 million.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.59) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.64) by $0.05. The firm earned $1 million during the quarter, compared to the consensus estimate of $1 million. Editas Medicine had a negative net margin of 1,184.46% and a negative return on equity of 59.22%. The company’s quarterly revenue was up 49.3% compared to the same quarter last year. Equities analysts predict that Editas Medicine Inc. will post ($2.49) earnings per share for the current year.

Several analysts recently weighed in on EDIT shares. Zacks Investment Research downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research note on Monday, August 15th. Jefferies Group upgraded Editas Medicine from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, August 10th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.75.

A number of institutional investors have recently modified their holdings of EDIT. JPMorgan Chase & Co. acquired a new position in shares of Editas Medicine during the first quarter valued at about $2,504,000. Goldman Sachs Group Inc. acquired a new position in shares of Editas Medicine during the first quarter valued at about $2,405,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Editas Medicine during the first quarter valued at about $336,000. Barclays PLC acquired a new position in shares of Editas Medicine during the first quarter valued at about $824,000. Finally, Bank of New York Mellon Corp raised its position in shares of Editas Medicine by 61.0% in the second quarter. Bank of New York Mellon Corp now owns 27,739 shares of the company’s stock valued at $677,000 after buying an additional 10,514 shares during the last quarter. 59.88% of the stock is currently owned by institutional investors.

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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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