Editas Medicine, Inc. (NASDAQ:EDIT) CFO Michelle Robertson sold 1,568 shares of the company’s stock in a transaction dated Tuesday, January 12th. The shares were sold at an average price of $78.27, for a total transaction of $122,727.36. Following the sale, the chief financial officer now directly owns 18,432 shares of the company’s stock, valued at approximately $1,442,672.64. The sale was disclosed in a filing with the SEC, which is available at this link.

Shares of EDIT stock opened at $73.30 on Thursday. The firm’s 50 day moving average price is $62.63 and its 200-day moving average price is $39.43. Editas Medicine, Inc. has a one year low of $14.01 and a one year high of $99.95. The firm has a market cap of $4.57 billion, a P/E ratio of -42.13 and a beta of 1.83.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Thursday, November 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.66) by $0.78. The company had revenue of $62.84 million for the quarter, compared to analyst estimates of $6.36 million. Editas Medicine had a negative net margin of 99.62% and a negative return on equity of 26.74%. The firm’s quarterly revenue was up 1532.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.66) EPS. Analysts forecast that Editas Medicine, Inc. will post -1.78 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in EDIT. Bank of New York Mellon Corp lifted its holdings in Editas Medicine by 23.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 316,361 shares of the company’s stock worth $9,357,000 after buying an additional 60,383 shares in the last quarter. Bank of Montreal Can lifted its holdings in Editas Medicine by 596.1% during the 2nd quarter. Bank of Montreal Can now owns 5,395 shares of the company’s stock worth $186,000 after buying an additional 4,620 shares in the last quarter. Advisor Group Holdings Inc. lifted its holdings in Editas Medicine by 24.3% during the 2nd quarter. Advisor Group Holdings Inc. now owns 25,987 shares of the company’s stock worth $769,000 after buying an additional 5,084 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Editas Medicine by 22.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,760,473 shares of the company’s stock valued at $170,395,000 after purchasing an additional 1,048,440 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Editas Medicine by 187.1% in the 2nd quarter. Bank of America Corp DE now owns 117,523 shares of the company’s stock valued at $3,476,000 after purchasing an additional 76,584 shares during the last quarter. Institutional investors own 87.19% of the company’s stock.

EDIT has been the subject of several research reports. Raymond James cut shares of Editas Medicine from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 7th. Morgan Stanley increased their price target on shares of Editas Medicine from $30.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 16th. Wells Fargo & Company increased their price target on shares of Editas Medicine from $69.00 to $86.00 and gave the company an “overweight” rating in a research note on Wednesday. Robert W. Baird initiated coverage on shares of Editas Medicine in a research note on Monday, November 2nd. They issued an “underperform” rating and a $14.00 price target for the company. Finally, BidaskClub raised shares of Editas Medicine from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Editas Medicine has an average rating of “Hold” and an average target price of $50.43.

About Editas Medicine

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. The company develops a proprietary genome editing platform based on CRISPR technology, which includes CRISPR/Cas9, CRISPR/Cas12a, and engineered forms of both of these CRISPR systems to target genetically addressable diseases and therapeutic areas.

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