Linda Burkly Sells 4,928 Shares of Editas Medicine (NASDAQ:EDIT) Stock

Editas Medicine, Inc. (NASDAQ:EDIT) EVP Linda Burkly sold 4,928 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $2.67, for a total value of $13,157.76. Following the completion of the sale, the executive vice president owned 62,369 shares of the company’s stock, valued at $166,525.23. This trade represents a 7.32% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Linda Burkly also recently made the following trade(s):

• On Wednesday, June 3rd, Linda Burkly sold 731 shares of Editas Medicine stock. The shares were sold at an average price of $2.70, for a total value of $1,973.70.

Editas Medicine Stock Performance

Shares of Editas Medicine stock opened at $2.69 on Friday. Editas Medicine, Inc. has a one year low of $1.66 and a one year high of $4.54. The company has a market cap of $263.38 million, a price-to-earnings ratio of -2.19 and a beta of 2.10. The business’s 50 day moving average price is $2.95 and its 200 day moving average price is $2.62.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Chardan Capital raised their price objective on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Wall Street Zen lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a report on Sunday, May 10th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Editas Medicine in a report on Friday, July 17th. Finally, TD Cowen reissued a “buy” rating on shares of Editas Medicine in a research note on Wednesday, May 27th. Five investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.40.

Hedge Funds Weigh In On Editas Medicine

A number of hedge funds have recently modified their holdings of EDIT. Renaissance Technologies LLC raised its holdings in Editas Medicine by 30.7% in the 1st quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company’s stock valued at $9,811,000 after buying an additional 932,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 valued at $3,016,000 after buying an additional 1,430,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in Editas Medicine by 12.0% during the fourth quarter. Geode Capital Management LLC now owns 2,284,740 shares of the company’s stock worth $4,685,000 after buying an additional 244,574 shares during the period. State Street Corp boosted its stake in Editas Medicine by 2.6% during the fourth quarter. State Street Corp now owns 1,974,931 shares of the company’s stock worth $4,049,000 after buying an additional 49,887 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Editas Medicine by 63.3% during the third quarter. Two Sigma Investments LP now owns 1,584,155 shares of the company’s stock valued at $5,497,000 after acquiring an additional 614,229 shares during the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

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.