Vanguard Group Inc. Purchases 370,734 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Vanguard Group Inc. grew its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT - Free Report) by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,536,208 shares of the company's stock after purchasing an additional 370,734 shares during the period. Vanguard Group Inc. owned about 10.45% of Editas Medicine worth $66,582,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its position in Editas Medicine by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 288,878 shares of the company's stock worth $5,494,000 after acquiring an additional 1,060 shares during the period. MML Investors Services LLC boosted its position in Editas Medicine by 6.2% during the 1st quarter. MML Investors Services LLC now owns 18,465 shares of the company's stock worth $134,000 after acquiring an additional 1,079 shares during the period. Wells Fargo & Company MN boosted its position in Editas Medicine by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 216,318 shares of the company's stock worth $1,780,000 after acquiring an additional 1,182 shares during the period. Amalgamated Bank lifted its holdings in shares of Editas Medicine by 18.0% during the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company's stock valued at $63,000 after buying an additional 1,226 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Editas Medicine by 9,693.3% during the 1st quarter. Covestor Ltd now owns 1,469 shares of the company's stock valued at $28,000 after buying an additional 1,454 shares during the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

Editas Medicine Price Performance

Shares of NASDAQ:EDIT remained flat at $6.72 during trading on Monday. The stock had a trading volume of 1,040,294 shares, compared to its average volume of 1,832,563. Editas Medicine, Inc. has a one year low of $6.08 and a one year high of $11.91. The stock has a market capitalization of $549.76 million, a P/E ratio of -3.28 and a beta of 2.02. The company has a fifty day moving average price of $7.97 and a two-hundred day moving average price of $8.46.

Editas Medicine (NASDAQ:EDIT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.52) by $0.29. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The company had revenue of $60.00 million for the quarter, compared to analyst estimates of $4.84 million. During the same quarter last year, the firm earned ($0.88) EPS. Editas Medicine's revenue for the quarter was up 817.4% compared to the same quarter last year. As a group, analysts forecast that Editas Medicine, Inc. will post -2.61 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EDIT shares. Citigroup lifted their price target on Editas Medicine from $11.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, February 29th. StockNews.com upgraded Editas Medicine from a "sell" rating to a "hold" rating in a report on Friday, March 1st. JPMorgan Chase & Co. raised their price objective on Editas Medicine from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Tuesday, February 27th. Barclays raised their price objective on Editas Medicine from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Thursday, February 29th. Finally, Truist Financial raised their price objective on Editas Medicine from $15.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $15.00.

Insider Activity at Editas Medicine

In related news, SVP Baisong Mei sold 20,327 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares of the company's stock, valued at approximately $1,333,335.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Baisong Mei sold 20,327 shares of the business's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $9.42, for a total value of $191,480.34. Following the sale, the senior vice president now owns 141,543 shares of the company's stock, valued at approximately $1,333,335.06. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gilmore Neil O'neill sold 77,824 shares of the business's stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total value of $733,102.08. Following the completion of the sale, the chief executive officer now directly owns 327,470 shares in the company, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

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.