Editas Medicine (NASDAQ:EDIT) Stock: Insider Gilmore Neil O'neill Sells 21,164 Shares

Key Points

• CEO Gilmore O’Neill sold 21,164 shares for about $51,217, reducing his stake by 7.38%. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Editas reported quarterly EPS of -$0.15, beating the consensus estimate of -$0.19, and revenue of $10.37 million versus a $4.46 million estimate.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $5.83; shares traded at $2.16 in Friday’s mid-day session.

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) CEO Gilmore O'neill sold 21,164 shares of the firm's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $2.42, for a total transaction of $51,216.88. Following the completion of the sale, the chief executive officer owned 265,592 shares of the company's stock, valued at $642,732.64. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Gilmore Neil O'neill also recently made the following trade(s):

• On Thursday, September 3rd, Gilmore O'neill sold 5,124 shares of Editas Medicine stock. The stock was sold at an average price of $3.04, for a total transaction of $15,576.96.

Editas Medicine Stock Up 0.9%

NASDAQ:EDIT traded up $0.02 during mid-day trading on Friday, hitting $2.16. 2,785,410 shares of the stock traded hands, compared to its average volume of 2,243,847. The stock has a market capitalization of $333.37 million, a price-to-earnings ratio of -3.48 and a beta of 2.08. Editas Medicine, Inc. has a 52 week low of $1.66 and a 52 week high of $3.94. The firm's 50 day moving average is $2.65 and its two-hundred day moving average is $2.69.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.04. Editas Medicine had a negative net margin of 144.95% and a negative return on equity of 130.43%. The business had revenue of $10.37 million during the quarter, compared to the consensus estimate of $4.46 million. As a group, research analysts predict that Editas Medicine, Inc. will post -0.79 EPS for the current year.

Hedge Funds Weigh In On Editas Medicine

A number of institutional investors have recently modified their holdings of EDIT. GSA Capital Partners LLP bought a new position in shares of Editas Medicine during the 2nd quarter worth $1,190,000. Opaleye Management Inc. raised its holdings in shares of Editas Medicine by 100.4% in the second quarter. Opaleye Management Inc. now owns 3,861,930 shares of the company's stock valued at $12,513,000 after acquiring an additional 1,934,933 shares in the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of Editas Medicine in the second quarter valued at about $4,311,000. Renaissance Technologies LLC raised its holdings in shares of Editas Medicine by 30.7% in the first quarter. Renaissance Technologies LLC now owns 3,972,160 shares of the company's stock valued at $9,811,000 after acquiring an additional 932,382 shares in the last quarter. Finally, BlackRock Inc. purchased a new stake in Editas Medicine in the second quarter worth about $34,312,000. 71.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Guggenheim raised Editas Medicine from a "neutral" rating to a "buy" rating and set a $5.00 price target for the company in a research note on Wednesday, September 23rd. Wall Street Zen raised Editas Medicine from a "sell" rating to a "hold" rating in a research report on Saturday, August 8th. Ladenburg Thalmann & Co. Inc. assumed coverage on Editas Medicine in a research note on Tuesday, August 18th. They issued a "buy" rating and a $6.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Editas Medicine in a research note on Wednesday, November 4th. Finally, Wells Fargo & Company upgraded Editas Medicine from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $4.00 to $6.00 in a research report on Thursday, October 8th. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $5.83.

About Editas Medicine

Editas Medicine, Inc. is a biotechnology company developing genome-editing medicines for people with serious diseases. Its research uses CRISPR-based technologies, including CRISPR-Cas9 and Cas12a, to make targeted changes to DNA. Founded in 2013 and based in Cambridge, Massachusetts, the company conducts research and clinical development of potential treatments for genetic disorders. Its work has included approaches designed to edit genes in a patient's cells, either outside the body or directly within the body.

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