Korea Investment CORP purchased a new stake in Editas Medicine Inc (NASDAQ:EDIT) during the second quarter, according to its most recent filing with the SEC. The firm purchased 61,300 shares of the company’s stock, valued at approximately $2,196,000.
Several other large investors have also recently made changes to their positions in EDIT. Telos Capital Management Inc. acquired a new stake in Editas Medicine during the 2nd quarter worth approximately $203,000. California State Teachers Retirement System raised its holdings in Editas Medicine by 4.1% during the 1st quarter. California State Teachers Retirement System now owns 56,489 shares of the company’s stock worth $1,873,000 after buying an additional 2,201 shares during the period. Altman Advisors Inc. acquired a new stake in Editas Medicine during the 2nd quarter worth approximately $1,524,000. Royal Bank of Canada raised its holdings in Editas Medicine by 86.9% during the 1st quarter. Royal Bank of Canada now owns 37,616 shares of the company’s stock worth $1,247,000 after buying an additional 17,494 shares during the period. Finally, Perigon Wealth Management LLC acquired a new stake in Editas Medicine during the 2nd quarter worth approximately $232,000. Institutional investors and hedge funds own 67.22% of the company’s stock.
In other news, insider Katrine Bosley sold 8,333 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $29.55, for a total transaction of $246,240.15. Following the completion of the transaction, the insider now directly owns 1,279,066 shares of the company’s stock, valued at approximately $37,796,400.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vickesh Myer sold 14,000 shares of the firm’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $38.26, for a total transaction of $535,640.00. Following the completion of the transaction, the insider now directly owns 4,300 shares of the company’s stock, valued at $164,518. The disclosure for this sale can be found here. Insiders have sold a total of 85,666 shares of company stock valued at $2,864,075 over the last ninety days. Company insiders own 5.20% of the company’s stock.
Shares of EDIT opened at $32.41 on Friday. Editas Medicine Inc has a twelve month low of $19.06 and a twelve month high of $45.02. The company has a debt-to-equity ratio of 0.14, a quick ratio of 14.50 and a current ratio of 14.50.
Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.15). The business had revenue of $7.37 million for the quarter, compared to the consensus estimate of $7.01 million. Editas Medicine had a negative return on equity of 61.27% and a negative net margin of 623.35%. Editas Medicine’s revenue was up 137.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.65) earnings per share. equities analysts forecast that Editas Medicine Inc will post -3 EPS for the current fiscal year.
Several analysts have commented on EDIT shares. BidaskClub raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. set a $36.00 price target on shares of Editas Medicine and gave the stock a “hold” rating in a research note on Monday, August 6th. Finally, ValuEngine raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $47.43.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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