Editas Medicine, Inc. (EDIT) Shares Bought by ARK Investment Management LLC
ARK Investment Management LLC grew its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 121.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 510,187 shares of the company’s stock after purchasing an additional 280,265 shares during the quarter. Editas Medicine makes up about 1.7% of ARK Investment Management LLC’s holdings, making the stock its 25th biggest position. ARK Investment Management LLC owned 1.25% of Editas Medicine worth $8,561,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Editas Medicine by 12.5% during the second quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock worth $36,533,000 after purchasing an additional 241,973 shares in the last quarter. Northern Trust Corp raised its holdings in Editas Medicine by 245.9% during the second quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock worth $6,261,000 after purchasing an additional 265,273 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Editas Medicine by 455.3% during the second quarter. New York State Common Retirement Fund now owns 36,100 shares of the company’s stock worth $606,000 after purchasing an additional 29,599 shares in the last quarter. Greenwoods Asset Management Ltd acquired a new stake in Editas Medicine during the second quarter worth approximately $1,191,000. Finally, ProShare Advisors LLC raised its holdings in Editas Medicine by 18.9% during the second quarter. ProShare Advisors LLC now owns 24,211 shares of the company’s stock worth $406,000 after purchasing an additional 3,857 shares in the last quarter. 70.17% of the stock is currently owned by institutional investors.
EDIT has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, July 12th. SunTrust Banks, Inc. initiated coverage on shares of Editas Medicine in a report on Thursday, July 13th. They set a “hold” rating and a $17.00 price objective on the stock. J P Morgan Chase & Co set a $27.00 price objective on shares of Editas Medicine and gave the stock a “hold” rating in a report on Wednesday, August 9th. Cann reissued a “hold” rating on shares of Editas Medicine in a report on Thursday, August 10th. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a report on Tuesday, July 18th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.52.
In related news, insider Katrine Bosley sold 16,666 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $20.33, for a total transaction of $338,819.78. Following the sale, the insider now directly owns 1,414,629 shares of the company’s stock, valued at approximately $28,759,407.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 43,332 shares of company stock worth $876,673.
Shares of Editas Medicine, Inc. (NASDAQ:EDIT) traded up 0.43% during trading on Friday, hitting $23.26. 276,556 shares of the stock were exchanged. Editas Medicine, Inc. has a one year low of $12.43 and a one year high of $28.50. The stock’s 50 day moving average price is $20.92 and its 200 day moving average price is $20.92. The stock’s market cap is $951.94 million.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Wednesday, August 9th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.01). The firm had revenue of $3.10 million for the quarter, compared to analyst estimates of $2.20 million. Editas Medicine had a negative net margin of 2,091.36% and a negative return on equity of 67.75%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.54) earnings per share. Equities research analysts predict that Editas Medicine, Inc. will post ($2.88) EPS for the current year.
Editas Medicine Company Profile
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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