Korea Investment CORP lowered its holdings in Editas Medicine Inc (NASDAQ:EDIT) by 14.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,600 shares of the company’s stock after selling 8,700 shares during the period. Korea Investment CORP owned approximately 0.11% of Editas Medicine worth $1,674,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. increased its holdings in Editas Medicine by 20.7% during the 2nd quarter. BlackRock Inc. now owns 3,455,066 shares of the company’s stock worth $123,796,000 after acquiring an additional 591,442 shares during the period. Morgan Stanley increased its holdings in Editas Medicine by 9.9% during the 2nd quarter. Morgan Stanley now owns 2,069,280 shares of the company’s stock worth $74,142,000 after acquiring an additional 186,018 shares during the period. JS Capital Management LLC bought a new stake in Editas Medicine during the 2nd quarter worth approximately $5,157,000. Oppenheimer & Co. Inc. bought a new stake in Editas Medicine during the 3rd quarter worth approximately $595,000. Finally, MetLife Investment Advisors LLC increased its holdings in Editas Medicine by 27.9% during the 2nd quarter. MetLife Investment Advisors LLC now owns 21,164 shares of the company’s stock worth $758,000 after acquiring an additional 4,611 shares during the period. 68.79% of the stock is currently owned by institutional investors.

EDIT stock opened at $29.69 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.14 and a quick ratio of 13.13. Editas Medicine Inc has a one year low of $22.50 and a one year high of $45.02. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -9.96 and a beta of 3.21.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Wednesday, November 7th. The company reported ($0.32) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.72) by $0.40. Editas Medicine had a negative net margin of 410.68% and a negative return on equity of 53.15%. The business had revenue of $14.52 million during the quarter, compared to analysts’ expectations of $9.83 million. During the same quarter in the previous year, the company earned ($0.64) EPS. The business’s quarterly revenue was up 131.2% compared to the same quarter last year. As a group, equities research analysts forecast that Editas Medicine Inc will post -2.18 earnings per share for the current fiscal year.

In other Editas Medicine news, CTO Vickesh Myer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $32.33, for a total value of $96,990.00. Following the completion of the transaction, the chief technology officer now owns 3,000 shares of the company’s stock, valued at approximately $96,990. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Katrine Bosley sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $31.92, for a total transaction of $383,040.00. Following the completion of the transaction, the chief executive officer now directly owns 1,217,066 shares of the company’s stock, valued at approximately $38,848,746.72. The disclosure for this sale can be found here. In the last three months, insiders sold 66,284 shares of company stock valued at $1,958,175. Corporate insiders own 5.20% of the company’s stock.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, November 13th. Guggenheim assumed coverage on shares of Editas Medicine in a report on Tuesday, October 9th. They set a “neutral” rating on the stock. Finally, Raymond James assumed coverage on shares of Editas Medicine in a report on Friday, September 21st. They set an “outperform” rating and a $40.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Editas Medicine currently has an average rating of “Buy” and a consensus price target of $45.50.

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About Editas Medicine

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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