Insider Selling: Editas Medicine, Inc. (NASDAQ:EDIT) EVP Sells $12,751.29 in Stock

Key Points

• Editas Medicine's EVP Linda Burkly sold 5,121 shares of the company's stock for approximately $12,751.29, representing a 7.37% decrease in her ownership.
• The stock has seen a trading volume of over 1.2 million shares with a current market cap of $214.30 million, while analysts predict a consensus price target of $4.70.
• Editas Medicine reported earnings of ($0.43) EPS for the last quarter, exceeding expectations, and experienced a significant year-on-year negative return on equity of 139.24%.

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) EVP Linda Burkly sold 5,121 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $2.49, for a total value of $12,751.29. Following the sale, the executive vice president owned 64,398 shares in the company, valued at approximately $160,351.02. This trade represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Linda Burkly also recently made the following trade(s):

• On Tuesday, June 3rd, Linda Burkly sold 726 shares of Editas Medicine stock. The shares were sold at an average price of $1.72, for a total transaction of $1,248.72.

Editas Medicine Price Performance

NASDAQ EDIT traded up $0.12 during trading hours on Monday, reaching $2.56. The company's stock had a trading volume of 1,284,150 shares, compared to its average volume of 3,000,419. Editas Medicine, Inc. has a 52 week low of $0.91 and a 52 week high of $4.90. The stock has a market cap of $214.30 million, a P/E ratio of -0.84 and a beta of 2.19. The firm has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $1.78.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.51) by $0.08. The business had revenue of $4.66 million during the quarter, compared to analyst estimates of $0.79 million. Editas Medicine had a negative return on equity of 139.24% and a negative net margin of 701.06%. During the same period last year, the company earned ($76.00) EPS. On average, research analysts expect that Editas Medicine, Inc. will post -2.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Editas Medicine from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Robert W. Baird lowered their target price on shares of Editas Medicine from $8.00 to $4.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. Cantor Fitzgerald upgraded shares of Editas Medicine from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Finally, HC Wainwright initiated coverage on Editas Medicine in a research note on Monday, April 28th. They set a "buy" rating and a $3.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, two have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $4.70.

Institutional Trading of Editas Medicine

Several institutional investors have recently added to or reduced their stakes in EDIT. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Editas Medicine by 122.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,600,000 shares of the company's stock worth $3,016,000 after purchasing an additional 1,430,000 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Editas Medicine by 46.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company's stock worth $2,104,000 after purchasing an additional 528,000 shares during the period. Two Sigma Investments LP lifted its position in shares of Editas Medicine by 21.4% in the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company's stock worth $2,094,000 after purchasing an additional 290,483 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Editas Medicine in the 4th quarter worth approximately $1,843,000. Finally, Balyasny Asset Management L.P. lifted its position in shares of Editas Medicine by 647.3% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company's stock worth $1,652,000 after purchasing an additional 1,126,569 shares during the period. 71.90% of the stock is currently owned by institutional investors.

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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