Editas Medicine (NASDAQ:EDIT) Stock: Insider Gilmore Neil O’neill Sells 21,164 Shares

Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore O’neill sold 21,164 shares of the stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $2.42, for a total transaction of $51,216.88. Following the sale, the chief executive officer directly owned 265,592 shares of the company’s stock, valued at $642,732.64. The trade was a 7.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.

Gilmore Neil O’neill also recently made the following trade(s):

• On Thursday, September 3rd, Gilmore O’neill sold 5,124 shares of Editas Medicine stock. The stock was sold at an average price of $3.04, for a total transaction of $15,576.96.

Editas Medicine Trading Up 1.4%

Shares of EDIT stock traded up $0.03 during mid-day trading on Friday, reaching $2.17. The stock had a trading volume of 2,785,410 shares, compared to its average volume of 2,235,164. The stock’s 50-day moving average price is $2.63 and its two-hundred day moving average price is $2.69. Editas Medicine, Inc. has a 52-week low of $1.66 and a 52-week high of $3.94. The firm has a market capitalization of $334.92 million, a PE ratio of -3.50 and a beta of 2.08.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Monday, November 9th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.04. The firm had revenue of $10.37 million during the quarter, compared to the consensus estimate of $4.46 million. Editas Medicine had a negative net margin of 144.95% and a negative return on equity of 130.43%. On average, equities research analysts forecast that Editas Medicine, Inc. will post -0.79 earnings per share for the current year.

Institutional Investors Weigh In On Editas Medicine

A number of large investors have recently modified their holdings of EDIT. Marshall Wace LLP lifted its holdings in Editas Medicine by 48.5% in the third quarter. Marshall Wace LLP now owns 3,024,503 shares of the company’s stock worth $7,773,000 after buying an additional 987,216 shares during the period. Empowered Funds LLC bought a new stake in Editas Medicine during the 3rd quarter valued at approximately $318,000. HighVista Strategies LLC bought a new stake in Editas Medicine during the 3rd quarter valued at approximately $2,845,000. State Street Corp boosted its position in Editas Medicine by 60.6% during the 3rd quarter. State Street Corp now owns 7,038,580 shares of the company’s stock valued at $18,089,000 after acquiring an additional 2,654,974 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in shares of Editas Medicine during the 3rd quarter worth approximately $31,000. Institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on EDIT shares. Wells Fargo & Company raised Editas Medicine from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $4.00 to $6.00 in a research report on Thursday, October 8th. Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Guggenheim upgraded Editas Medicine from a “neutral” rating to a “buy” rating and set a $5.00 price objective on the stock in a research report on Wednesday, September 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Editas Medicine in a research note on Wednesday, November 4th. Finally, Ladenburg Thalmann & Co. Inc. initiated coverage on Editas Medicine in a report on Tuesday, August 18th. They set a “buy” rating and a $6.00 target price for the company. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5.83.

About Editas Medicine

Editas Medicine, Inc. is a biotechnology company developing genome-editing medicines for people with serious diseases. Its research uses CRISPR-based technologies, including CRISPR-Cas9 and Cas12a, to make targeted changes to DNA. Founded in 2013 and based in Cambridge, Massachusetts, the company conducts research and clinical development of potential treatments for genetic disorders. Its work has included approaches designed to edit genes in a patient’s cells, either outside the body or directly within the body.