Editas Medicine, Inc. (NASDAQ:EDIT) EVP Linda Burkly Sells 5,121 Shares

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 business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $2.49, for a total transaction of $12,751.29. Following the sale, the executive vice president directly owned 64,398 shares in the company, valued at $160,351.02. The trade was a 7.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $1.72, for a total value of $1,248.72.

Editas Medicine Stock Performance

Shares of Editas Medicine stock traded down $0.19 during midday trading on Friday, reaching $2.31. 1,014,229 shares of the company's stock traded hands, compared to its average volume of 2,950,566. The company has a market cap of $192.95 million, a PE ratio of -0.76 and a beta of 2.19. The stock has a 50 day moving average of $2.47 and a 200-day moving average of $1.81. Editas Medicine, Inc. has a 12 month low of $0.91 and a 12 month high of $4.22.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.08. The company had revenue of $4.66 million for 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 in the previous year, the company posted ($76.00) earnings per share. On average, equities analysts anticipate that Editas Medicine, Inc. will post -2.71 earnings per share for the current fiscal year.

Institutional Trading of Editas Medicine

A number of institutional investors and hedge funds have recently modified their holdings of EDIT. Geode Capital Management LLC lifted its position in Editas Medicine by 1.1% during the second quarter. Geode Capital Management LLC now owns 1,964,298 shares of the company's stock valued at $4,323,000 after purchasing an additional 20,521 shares in the last quarter. Savant Capital LLC boosted its position in shares of Editas Medicine by 143.4% in the second quarter. Savant Capital LLC now owns 31,560 shares of the company's stock worth $69,000 after purchasing an additional 18,593 shares during the period. R Squared Ltd purchased a new stake in shares of Editas Medicine in the second quarter worth $45,000. International Assets Investment Management LLC bought a new stake in shares of Editas Medicine during the 2nd quarter valued at $70,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Editas Medicine by 55.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 41,366 shares of the company's stock valued at $91,000 after purchasing an additional 14,765 shares during the period. Institutional investors own 71.90% of the company's stock.

Analyst Ratings Changes

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

Editas Medicine Company Profile

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.