217,785 Shares in Editas Medicine, Inc. $EDIT Acquired by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 217,785 shares of the company’s stock, valued at approximately $706,000. Ieq Capital LLC owned approximately 0.22% of Editas Medicine at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Editas Medicine by 122.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company’s stock worth $3,016,000 after purchasing an additional 1,430,000 shares in the last quarter. Acadian Asset Management LLC raised its holdings in shares of Editas Medicine by 288.5% in the first quarter. Acadian Asset Management LLC now owns 752,162 shares of the company’s stock valued at $869,000 after buying an additional 558,567 shares during the last quarter. Geode Capital Management LLC lifted its position in Editas Medicine by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company’s stock worth $4,323,000 after buying an additional 20,521 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Editas Medicine by 15.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,065,722 shares of the company’s stock worth $2,345,000 after buying an additional 140,916 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its position in Editas Medicine by 500.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 120,000 shares of the company’s stock worth $264,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Trading Up 3.8%

NASDAQ EDIT opened at $3.30 on Friday. Editas Medicine, Inc. has a 12 month low of $1.66 and a 12 month high of $4.54. The stock has a 50-day simple moving average of $2.99 and a 200 day simple moving average of $2.74. The company has a market capitalization of $506.81 million, a PE ratio of -4.40 and a beta of 2.14.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.12. The firm 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%. As a group, sell-side analysts predict that Editas Medicine, Inc. will post -0.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EDIT. 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 research report on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Chardan Capital increased their price objective on Editas Medicine from $3.50 to $4.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, LADENBURG THALM/SH SH began coverage on Editas Medicine in a research note on Tuesday, August 18th. They issued a “buy” rating and a $6.00 target price for the company. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Editas Medicine presently has an average rating of “Moderate Buy” and an average price target of $5.50.

Insiders Place Their Bets

In related news, CEO Gilmore Neil O’neill sold 15,380 shares of Editas Medicine stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total transaction of $41,526.00. Following the transaction, the chief executive officer owned 248,313 shares of the company’s stock, valued at $670,445.10. This trade represents a 5.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 worth $57,910. 3.10% of the stock is owned by company insiders.

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.