Fmr LLC Sells 1,148,473 Shares of Editas Medicine Inc (EDIT)
Fmr LLC lessened its stake in shares of Editas Medicine Inc (NASDAQ:EDIT) by 28.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,894,184 shares of the company’s stock after selling 1,148,473 shares during the quarter. Fmr LLC owned approximately 6.12% of Editas Medicine worth $103,698,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of EDIT. Element Capital Management LLC acquired a new stake in Editas Medicine in the 1st quarter worth about $201,000. Reynders McVeigh Capital Management LLC acquired a new stake in Editas Medicine in the 2nd quarter worth about $202,000. Telos Capital Management Inc. acquired a new stake in Editas Medicine in the 2nd quarter worth about $203,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Editas Medicine in the 1st quarter worth about $207,000. Finally, Kovack Advisors Inc. acquired a new stake in Editas Medicine in the 1st quarter worth about $223,000. Hedge funds and other institutional investors own 67.22% of the company’s stock.
Several research firms have recently weighed in on EDIT. BidaskClub lowered Editas Medicine from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. ValuEngine raised Editas Medicine from a “hold” rating to a “buy” rating in a research note on Saturday, June 2nd. Zacks Investment Research lowered Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, August 9th. Finally, JPMorgan Chase & Co. set a $36.00 price objective on Editas Medicine and gave the company a “hold” rating in a research note on Monday, August 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. Editas Medicine presently has an average rating of “Buy” and an average price target of $47.43.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings data on Monday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.15). The firm had revenue of $7.37 million during the quarter, compared to analyst estimates of $7.01 million. Editas Medicine had a negative net margin of 623.35% and a negative return on equity of 61.27%. The business’s revenue for the quarter was up 137.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.65) earnings per share. sell-side analysts expect that Editas Medicine Inc will post -3 EPS for the current fiscal year.
In related news, CTO Vickesh Myer sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $29.65, for a total transaction of $88,950.00. Following the transaction, the chief technology officer now directly owns 3,000 shares of the company’s stock, valued at approximately $88,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Katrine Bosley sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $32.35, for a total value of $388,200.00. Following the transaction, the chief executive officer now directly owns 1,254,179 shares in the company, valued at $40,572,690.65. The disclosure for this sale can be found here. Insiders have sold a total of 71,666 shares of company stock worth $2,328,435 over the last three months. 5.20% of the stock is currently owned by corporate insiders.
About Editas Medicine
Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.
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