Cornercap Investment Counsel Inc. Takes $203,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Cornercap Investment Counsel Inc. acquired a new position in Editas Medicine, Inc. (NASDAQ:EDIT) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 20,014 shares of the company’s stock, valued at approximately $203,000.

A number of other institutional investors have also recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Editas Medicine by 9,693.3% in the 1st quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after purchasing an additional 1,454 shares during the period. Quantbot Technologies LP acquired a new position in Editas Medicine in the 1st quarter valued at approximately $44,000. Lazard Asset Management LLC lifted its position in Editas Medicine by 81.4% in the 3rd quarter. Lazard Asset Management LLC now owns 4,595 shares of the company’s stock worth $35,000 after buying an additional 2,062 shares in the last quarter. Clear Street Markets LLC purchased a new stake in Editas Medicine in the 3rd quarter worth approximately $44,000. Finally, Penserra Capital Management LLC acquired a new stake in shares of Editas Medicine during the 1st quarter valued at $147,000. 71.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Baisong Mei sold 20,327 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares of the company’s stock, valued at approximately $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Baisong Mei sold 20,327 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the transaction, the senior vice president now owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the transaction, the chief executive officer now owns 327,470 shares of the company’s stock, valued at $3,084,767.40. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EDIT. StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Citigroup upped their target price on Editas Medicine from $11.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. lifted their price target on Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Finally, Barclays increased their price objective on Editas Medicine from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Editas Medicine Stock Down 4.1 %

Shares of EDIT stock opened at $5.61 on Thursday. Editas Medicine, Inc. has a 12 month low of $5.60 and a 12 month high of $11.91. The company has a market cap of $458.95 million, a PE ratio of -2.74 and a beta of 2.01. The business’s 50 day moving average is $7.88 and its two-hundred day moving average is $8.42.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.29. The business had revenue of $60.00 million for the quarter, compared to analyst estimates of $4.84 million. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. Editas Medicine’s revenue was up 817.4% compared to the same quarter last year. During the same period last year, the business posted ($0.88) EPS. As a group, equities analysts expect that Editas Medicine, Inc. will post -2.61 EPS for the current fiscal year.

Editas Medicine Profile

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.