Gilmore Neil O’neill Sells 5,394 Shares of Editas Medicine (NASDAQ:EDIT) Stock

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O’neill sold 5,394 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $2.02, for a total transaction of $10,895.88. Following the sale, the chief executive officer owned 263,693 shares of the company’s stock, valued at approximately $532,659.86. The trade was a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Editas Medicine Stock Performance

Editas Medicine stock opened at $1.89 on Friday. Editas Medicine, Inc. has a 1 year low of $0.91 and a 1 year high of $4.54. The firm’s 50-day moving average is $2.01 and its 200-day moving average is $2.58. The company has a market cap of $184.50 million, a P/E ratio of -0.79 and a beta of 2.16.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EDIT. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Editas Medicine in a research report on Wednesday, January 21st. Chardan Capital upgraded Editas Medicine from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 13th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $5.00.

Institutional Trading of Editas Medicine

Several large investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in shares of Editas Medicine in the second quarter worth $26,000. StoneX Group Inc. acquired a new position in Editas Medicine during the fourth quarter valued at $33,000. Victory Capital Management Inc. acquired a new position in Editas Medicine during the third quarter valued at $36,000. Sei Investments Co. purchased a new stake in Editas Medicine in the 3rd quarter worth about $46,000. Finally, Baader Bank Aktiengesellschaft acquired a new stake in Editas Medicine during the 3rd quarter worth about $50,000. 71.90% of the stock is owned by institutional investors and hedge funds.

About Editas Medicine

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.