367,147 Shares in Editas Medicine, Inc. $EDIT Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners acquired 367,147 Editas Medicine shares worth approximately $1.19 million, representing about 0.37% of the company. Institutional investors collectively own 71.9% of EDIT.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $5.40; recent targets include Chardan Capital’s increase to $4.00.
• Editas reported a quarterly loss of $0.15 per share, outperforming the expected $0.27 loss, while revenue of $11.89 million exceeded the $2.85 million consensus estimate. The stock opened at $2.84, with a 52-week range of $1.66 to $4.54.

GSA Capital Partners LLP acquired a new stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 367,147 shares of the company's stock, valued at approximately $1,190,000. GSA Capital Partners LLP owned about 0.37% of Editas Medicine at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. Eversept Partners LP bought a new position in Editas Medicine during the fourth quarter valued at approximately $596,000. Walleye Capital LLC bought a new position in Editas Medicine during the second quarter valued at approximately $596,000. State of Wyoming acquired a new stake in Editas Medicine in the first quarter valued at approximately $43,000. Finally, Victory Capital Management Inc. acquired a new stake in Editas Medicine in the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 71.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on EDIT. TD Cowen reissued a "buy" rating on shares of Editas Medicine in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Editas Medicine from a "sell" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings raised shares of Editas Medicine from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 11th. Finally, Chardan Capital upped their price objective on shares of Editas Medicine from $3.50 to $4.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $5.40.

Insider Buying and Selling at Editas Medicine

In other news, CEO Gilmore Neil O'neill sold 15,380 shares of the business's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $2.70, for a total value of $41,526.00. Following the completion of the sale, the chief executive officer directly owned 248,313 shares in the company, valued at approximately $670,445.10. The trade was a 5.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 21,503 shares of company stock valued at $57,910 in the last ninety days. 3.10% of the stock is currently owned by insiders.

Editas Medicine Stock Performance

EDIT opened at $2.84 on Tuesday. The business has a 50 day moving average price of $2.89 and a 200 day moving average price of $2.67. Editas Medicine, Inc. has a twelve month low of $1.66 and a twelve month high of $4.54. The firm has a market cap of $436.17 million, a P/E ratio of -3.79 and a beta of 2.14.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.12. Editas Medicine had a negative return on equity of 196.63% and a negative net margin of 157.32%.The firm had revenue of $11.89 million during the quarter, compared to analysts' expectations of $2.85 million. As a group, analysts anticipate that Editas Medicine, Inc. will post -0.89 earnings per share for the current fiscal year.

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 β-thalassemia using an ex vivo editing approach.

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