Bank of America Corp DE decreased its holdings in Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 50.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 433,172 shares of the company's stock after selling 449,067 shares during the quarter. Bank of America Corp DE owned 0.52% of Editas Medicine worth $550,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of EDIT. Ieq Capital LLC purchased a new stake in Editas Medicine during the 4th quarter worth approximately $31,000. Dark Forest Capital Management LP grew its position in shares of Editas Medicine by 66.9% in the fourth quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company's stock valued at $42,000 after purchasing an additional 13,138 shares in the last quarter. Freestone Grove Partners LP purchased a new position in Editas Medicine in the fourth quarter worth approximately $46,000. Intech Investment Management LLC grew its position in 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 acquiring an additional 12,336 shares during the period. Finally, Virtu Financial LLC purchased a new position in Editas Medicine in the fourth quarter worth approximately $90,000. Institutional investors and hedge funds own 71.90% of the company's stock.
Insider Activity
In other Editas Medicine news, CEO Gilmore Neil O'neill sold 15,192 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 280,282 shares in the company, valued at $482,085.04. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 16,364 shares of company stock worth $28,146. Corporate insiders own 2.10% of the company's stock.
Editas Medicine Price Performance
Shares of NASDAQ EDIT traded down $0.21 during mid-day trading on Friday, hitting $1.97. The company had a trading volume of 3,047,521 shares, compared to its average volume of 2,575,968. The company has a market capitalization of $164.91 million, a PE ratio of -0.77 and a beta of 2.10. Editas Medicine, Inc. has a 1-year low of $0.91 and a 1-year high of $6.05. The business's 50-day simple moving average is $1.56 and its 200 day simple moving average is $1.51.
Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.08. The business had revenue of $4.66 million for the quarter, compared to analysts' expectations of $0.79 million. Editas Medicine had a negative return on equity of 80.13% and a negative net margin of 340.96%. During the same period last year, the firm earned ($76.00) earnings per share. On average, analysts expect that Editas Medicine, Inc. will post -2.71 EPS for the current year.
Analyst Ratings Changes
Several research analysts recently weighed in on EDIT shares. HC Wainwright started coverage on Editas Medicine in a research report on Monday, April 28th. They issued a "buy" rating and a $3.00 price objective for the company. Cantor Fitzgerald upgraded Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Robert W. Baird lowered their price objective on Editas Medicine from $8.00 to $4.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Editas Medicine from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $5.36.
Read Our Latest Stock Analysis on EDIT
Editas Medicine Company Profile
(
Free Report)
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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