Bank of America Corp DE reduced its stake in Editas Medicine Inc (NASDAQ:EDIT) by 46.6% during the fourth quarter, HoldingsChannel reports. The firm owned 35,526 shares of the company’s stock after selling 31,059 shares during the quarter. Bank of America Corp DE’s holdings in Editas Medicine were worth $809,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Editas Medicine by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock valued at $118,675,000 after purchasing an additional 141,609 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Editas Medicine by 2.6% in the 4th quarter. BlackRock Inc. now owns 3,681,534 shares of the company’s stock valued at $83,755,000 after purchasing an additional 92,393 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Editas Medicine in the 4th quarter valued at approximately $19,746,000. Northern Trust Corp boosted its stake in shares of Editas Medicine by 0.4% in the 4th quarter. Northern Trust Corp now owns 546,239 shares of the company’s stock valued at $12,426,000 after purchasing an additional 2,044 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Editas Medicine by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 505,115 shares of the company’s stock valued at $11,491,000 after purchasing an additional 51,295 shares in the last quarter. Institutional investors own 71.72% of the company’s stock.

Editas Medicine stock opened at $22.64 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 8.46 and a quick ratio of 10.44. Editas Medicine Inc has a 52-week low of $17.80 and a 52-week high of $41.43. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -9.72 and a beta of 2.48.

Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.03). Editas Medicine had a negative return on equity of 47.64% and a negative net margin of 359.93%. The firm had revenue of $2.07 million for the quarter, compared to the consensus estimate of $7.62 million. During the same quarter in the previous year, the business posted ($0.67) EPS. The firm’s revenue for the quarter was down 47.3% compared to the same quarter last year. Analysts forecast that Editas Medicine Inc will post -2.52 earnings per share for the current year.

In other Editas Medicine news, insider Vickesh Myer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $24.50, for a total transaction of $73,500.00. Following the completion of the transaction, the insider now owns 3,000 shares in the company, valued at approximately $73,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jessica Hopfield purchased 10,200 shares of the stock in a transaction on Tuesday, March 5th. The shares were purchased at an average price of $23.94 per share, with a total value of $244,188.00. Following the acquisition, the director now owns 16,900 shares in the company, valued at approximately $404,586. The disclosure for this purchase can be found here. 0.94% of the stock is currently owned by company insiders.

A number of equities research analysts have recently weighed in on EDIT shares. BidaskClub downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. Zacks Investment Research upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, March 5th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Cowen reiterated a “buy” rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Finally, Chardan Capital reiterated a “buy” rating and issued a $55.00 price objective on shares of Editas Medicine in a report on Tuesday, January 22nd. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Editas Medicine has a consensus rating of “Buy” and a consensus price target of $37.80.

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About Editas Medicine

Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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