Insider Buying: Editas Medicine, Inc. (NASDAQ:EDIT) Director Buys 45,000 Shares of Stock

Editas Medicine, Inc. (NASDAQ:EDIT - Get Free Report) Director Jessica Hopfield bought 45,000 shares of the business's stock in a transaction on Monday, May 13th. The stock was bought at an average cost of $5.64 per share, with a total value of $253,800.00. Following the transaction, the director now owns 67,700 shares in the company, valued at approximately $381,828. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Editas Medicine Stock Performance

Shares of EDIT traded down $0.03 during mid-day trading on Tuesday, reaching $5.68. The stock had a trading volume of 1,599,020 shares, compared to its average volume of 1,839,970. Editas Medicine, Inc. has a 12 month low of $4.91 and a 12 month high of $11.91. The business has a fifty day moving average of $6.76 and a 200 day moving average of $8.23.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.63) by ($0.13). The business had revenue of $1.10 million for the quarter, compared to analysts' expectations of $11.14 million. Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. Editas Medicine's revenue for the quarter was down 88.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.71) EPS. Equities analysts forecast that Editas Medicine, Inc. will post -2.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Editas Medicine

Hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of Editas Medicine by 40.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company's stock valued at $24,236,000 after acquiring an additional 690,366 shares during the period. Vanguard Group Inc. raised its stake in shares of Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company's stock valued at $66,582,000 after acquiring an additional 370,734 shares during the period. International Assets Investment Management LLC raised its stake in shares of Editas Medicine by 1,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 288,269 shares of the company's stock valued at $28,457,000 after acquiring an additional 265,812 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Editas Medicine by 32.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 688,964 shares of the company's stock valued at $5,374,000 after acquiring an additional 170,694 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Editas Medicine in the first quarter valued at $1,097,000. Hedge funds and other institutional investors own 71.90% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised Editas Medicine from an "underweight" rating to an "equal weight" rating and set a $7.00 price objective for the company in a report on Thursday, May 9th. Citigroup dropped their price objective on shares of Editas Medicine from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of Editas Medicine from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Tuesday, February 27th. Barclays cut their target price on shares of Editas Medicine from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Thursday, May 9th. Finally, StockNews.com lowered shares of Editas Medicine from a "hold" rating to a "sell" rating in a research report on Thursday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Editas Medicine has a consensus rating of "Hold" and a consensus price target of $13.90.

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.

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