Gilmore Neil O’neill Sells 15,380 Shares of Editas Medicine (NASDAQ:EDIT) Stock

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O’neill sold 15,380 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total value of $41,526.00. Following the transaction, the chief executive officer owned 248,313 shares in the company, valued at approximately $670,445.10. This trade represents a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Editas Medicine Price Performance

NASDAQ EDIT opened at $2.71 on Friday. Editas Medicine, Inc. has a fifty-two week low of $1.66 and a fifty-two week high of $4.54. The stock’s 50-day moving average is $2.94 and its two-hundred day moving average is $2.45. The firm has a market cap of $265.34 million, a P/E ratio of -2.20 and a beta of 2.16.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, May 5th. The company reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.04. The company had revenue of $2.83 million for the quarter, compared to analyst estimates of $6.37 million. Editas Medicine had a negative return on equity of 677.39% and a negative net margin of 281.59%. On average, equities analysts expect that Editas Medicine, Inc. will post -1.03 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Sunday, May 10th. TD Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a report on Wednesday, May 27th. Chardan Capital boosted their target price on Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. JonesTrading raised Editas Medicine from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Tuesday, March 10th. Finally, Robert W. Baird set a $6.00 price objective on shares of Editas Medicine in a research report on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.

Institutional Trading of Editas Medicine

A number of large investors have recently made changes to their positions in EDIT. Captrust Financial Advisors bought a new stake in shares of Editas Medicine in the 2nd quarter valued at $26,000. StoneX Group Inc. acquired a new position in shares of Editas Medicine during the 4th quarter worth about $33,000. Abel Hall LLC bought a new stake in shares of Editas Medicine in the 1st quarter valued at about $36,000. Victory Capital Management Inc. bought a new stake in shares of Editas Medicine in the 3rd quarter valued at about $36,000. Finally, State of Wyoming bought a new stake in shares of Editas Medicine in the 1st quarter valued at about $43,000. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Company Profile

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 ?-thalassemia using an ex vivo editing approach.