Raymond James Financial Services Advisors Inc. purchased a new stake in Editas Medicine Inc (NASDAQ:EDIT) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 9,959 shares of the company’s stock, valued at approximately $306,000.
Other hedge funds have also recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its stake in Editas Medicine by 519.9% in the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after acquiring an additional 4,159 shares during the last quarter. Plancorp LLC acquired a new stake in shares of Editas Medicine during the 4th quarter worth about $235,000. Teacher Retirement System of Texas acquired a new stake in shares of Editas Medicine during the 4th quarter worth about $253,000. Rothschild Investment Corp IL acquired a new stake in shares of Editas Medicine during the 4th quarter worth about $263,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Editas Medicine during the 4th quarter worth about $267,000. Hedge funds and other institutional investors own 64.49% of the company’s stock.
In related news, insider Katrine Bosley sold 9,134 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $45.00, for a total transaction of $411,030.00. Following the transaction, the insider now directly owns 1,318,631 shares of the company’s stock, valued at $59,338,395. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andrew A. F. Hack sold 18,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $34.21, for a total transaction of $615,780.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,133 shares of company stock worth $3,031,597. 19.40% of the stock is owned by insiders.
A number of research firms have recently issued reports on EDIT. BidaskClub cut shares of Editas Medicine from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Morgan Stanley restated an “equal weight” rating and set a $43.00 target price (up previously from $28.00) on shares of Editas Medicine in a research note on Wednesday, March 14th. Zacks Investment Research upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Barclays raised their target price on shares of Editas Medicine from $28.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 7th. Finally, JMP Securities raised their target price on shares of Editas Medicine from $40.00 to $67.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $40.02.
Shares of Editas Medicine Inc (NASDAQ:EDIT) opened at $37.30 on Tuesday. Editas Medicine Inc has a 12 month low of $13.12 and a 12 month high of $45.02. The stock has a market cap of $1,782.56, a PE ratio of -12.52 and a beta of 3.68. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.05 and a current ratio of 9.05.
Editas Medicine (NASDAQ:EDIT) last released its quarterly earnings results on Tuesday, March 6th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.09). Editas Medicine had a negative return on equity of 61.92% and a negative net margin of 876.49%. The business had revenue of $3.70 million for the quarter, compared to the consensus estimate of $4.25 million. During the same period in the prior year, the business posted ($1.10) earnings per share. Editas Medicine’s revenue was up 311.1% compared to the same quarter last year. research analysts forecast that Editas Medicine Inc will post -3.3 earnings per share for the current year.
About Editas Medicine
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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