GSA Capital Partners LLP Takes $1.19 Million Position in Editas Medicine, Inc. $EDIT

GSA Capital Partners LLP bought a new stake in Editas Medicine, Inc. (NASDAQ:EDIT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 367,147 shares of the company’s stock, valued at approximately $1,190,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its holdings in shares of Editas Medicine by 30.7% during the first quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company’s stock worth $9,811,000 after buying an additional 932,382 shares during the last quarter. Eversept Partners LP bought a new stake in shares of Editas Medicine in the fourth quarter valued at approximately $596,000. Walleye Capital LLC acquired a new stake in shares of Editas Medicine in the second quarter worth $596,000. State of Wyoming acquired a new stake in shares of Editas Medicine in the first quarter worth $43,000. Finally, Victory Capital Management Inc. bought a new position in Editas Medicine during the third quarter worth $36,000. 71.90% of the stock is owned by institutional investors.

Insider Transactions at Editas Medicine

In other Editas Medicine news, CEO Gilmore Neil O’neill sold 15,380 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total value of $41,526.00. Following the sale, the chief executive officer owned 248,313 shares of the company’s stock, valued at $670,445.10. The trade was a 5.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 21,503 shares of company stock valued at $57,910. Insiders own 3.10% of the company’s stock.

Editas Medicine Trading Up 0.7%

Shares of NASDAQ:EDIT opened at $2.84 on Tuesday. Editas Medicine, Inc. has a 1-year low of $1.66 and a 1-year high of $4.54. The firm has a market capitalization of $436.17 million, a PE ratio of -3.79 and a beta of 2.14. The business’s 50 day moving average is $2.89 and its 200-day moving average is $2.67.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.12. The business had revenue of $11.89 million for the quarter, compared to analysts’ expectations of $2.85 million. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%. On average, sell-side analysts predict that Editas Medicine, Inc. will post -0.89 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EDIT shares. Chardan Capital upped their target price on shares of Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded shares of Editas Medicine from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 11th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Editas Medicine presently has an average rating of “Moderate Buy” and an average price target of $5.40.

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.