Editas Medicine Inc (EDIT) CFO Andrew A. F. Hack Sells 40,000 Shares

Editas Medicine Inc (NASDAQ:EDIT) CFO Andrew A. F. Hack sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 20th. The stock was sold at an average price of $38.06, for a total value of $1,522,400.00. Following the completion of the sale, the chief financial officer now owns 6,000 shares of the company’s stock, valued at approximately $228,360. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Editas Medicine Inc (EDIT) traded up $0.84 during trading hours on Tuesday, reaching $38.14. The company had a trading volume of 1,075,669 shares, compared to its average volume of 1,770,474. The company has a market cap of $1,782.56, a P/E ratio of -12.80 and a beta of 3.68. Editas Medicine Inc has a one year low of $13.12 and a one year high of $45.02. The company has a quick ratio of 9.05, a current ratio of 9.05 and a debt-to-equity ratio of 0.16.

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Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, March 6th. The company reported ($0.84) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.75) by ($0.09). The company had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $4.25 million. Editas Medicine had a negative return on equity of 61.92% and a negative net margin of 876.49%. Editas Medicine’s revenue for the quarter was up 311.1% on a year-over-year basis. During the same period last year, the firm earned ($1.10) earnings per share. research analysts anticipate that Editas Medicine Inc will post -3.3 EPS for the current fiscal year.

A number of analysts recently weighed in on the company. BidaskClub downgraded Editas Medicine from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. Barclays boosted their target price on Editas Medicine from $28.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 7th. SunTrust Banks upgraded Editas Medicine from a “hold” rating to a “buy” rating and boosted their target price for the stock from $17.00 to $45.00 in a research report on Tuesday, January 23rd. Finally, Cann restated a “hold” rating on shares of Editas Medicine in a research report on Friday, February 16th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Editas Medicine presently has a consensus rating of “Hold” and an average price target of $40.02.

A number of institutional investors have recently made changes to their positions in the business. Slow Capital Inc. purchased a new position in Editas Medicine in the 4th quarter worth approximately $391,000. MetLife Investment Advisors LLC purchased a new position in Editas Medicine in the 4th quarter worth approximately $509,000. Glenmede Trust Co. NA purchased a new position in Editas Medicine in the 4th quarter worth approximately $153,000. Financial Advocates Investment Management purchased a new position in Editas Medicine in the 4th quarter worth approximately $319,000. Finally, Millennium Management LLC increased its stake in Editas Medicine by 13.2% in the 4th quarter. Millennium Management LLC now owns 422,757 shares of the company’s stock worth $12,991,000 after purchasing an additional 49,336 shares during the period. 64.49% of the stock is currently owned by institutional investors and hedge funds.

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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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