Editas Medicine, Inc. (NASDAQ:EDIT) CEO Gilmore Neil O'neill Sells 15,192 Shares

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) CEO Gilmore Neil O'neill sold 15,192 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $1.72, for a total value of $26,130.24. Following the completion of the transaction, the chief executive officer now directly owns 280,282 shares in the company, valued at approximately $482,085.04. This represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Editas Medicine Price Performance

EDIT stock remained flat at $1.82 during trading on Wednesday. The company had a trading volume of 866,076 shares, compared to its average volume of 2,561,089. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $6.22. The company's 50 day moving average price is $1.43 and its 200 day moving average price is $1.54. The company has a market capitalization of $152.36 million, a P/E ratio of -0.71 and a beta of 2.15.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, beating analysts' consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. The company had revenue of $4.66 million for the quarter, compared to the consensus estimate of $0.79 million. During the same quarter last year, the company earned ($76.00) earnings per share. Equities research analysts expect that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

A number of institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its stake in Editas Medicine by 103.7% in the fourth quarter. SG Americas Securities LLC now owns 81,669 shares of the company's stock valued at $104,000 after buying an additional 41,573 shares during the last quarter. Ieq Capital LLC purchased a new stake in Editas Medicine in the fourth quarter valued at about $31,000. Raymond James Financial Inc. purchased a new position in shares of Editas Medicine in the fourth quarter worth about $303,000. Monaco Asset Management SAM purchased a new position in shares of Editas Medicine in the fourth quarter worth about $1,359,000. Finally, Intech Investment Management LLC raised its stake in shares of Editas Medicine by 43.1% in the fourth quarter. Intech Investment Management LLC now owns 40,942 shares of the company's stock worth $52,000 after purchasing an additional 12,336 shares during the last quarter. Institutional investors own 71.90% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on EDIT shares. Cantor Fitzgerald raised Editas Medicine from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. HC Wainwright initiated coverage on Editas Medicine in a report on Monday, April 28th. They set a "buy" rating and a $3.00 price target on the stock. Robert W. Baird cut their price objective on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Editas Medicine currently has a consensus rating of "Hold" and a consensus target price of $5.36.

About Editas Medicine

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.

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