Editas Medicine Inc (NASDAQ:EDIT) saw a significant growth in short interest in January. As of January 31st, there was short interest totalling 6,779,942 shares, a growth of 30.1% from the January 15th total of 5,212,649 shares. Based on an average daily trading volume, of 1,560,927 shares, the short-interest ratio is currently 4.3 days. Currently, 14.8% of the shares of the company are short sold.
EDIT stock traded up $0.22 during mid-day trading on Monday, reaching $19.97. 531,083 shares of the stock traded hands, compared to its average volume of 1,148,200. The firm has a market capitalization of $944.25 million, a PE ratio of -6.70 and a beta of 2.56. Editas Medicine has a 52-week low of $17.80 and a 52-week high of $45.02. The company has a current ratio of 13.14, a quick ratio of 13.13 and a debt-to-equity ratio of 0.15.
In other Editas Medicine news, insider Vickesh Myer sold 7,000 shares of the business’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $27.61, for a total value of $193,270.00. Following the transaction, the insider now directly owns 3,000 shares in the company, valued at approximately $82,830. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Andrew A. F. Hack sold 5,284 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $28.15, for a total transaction of $148,744.60. Following the completion of the transaction, the chief financial officer now owns 5,284 shares in the company, valued at $148,744.60. The disclosure for this sale can be found here. Insiders sold 61,179 shares of company stock valued at $1,623,659 in the last ninety days. 5.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in EDIT. We Are One Seven LLC bought a new stake in Editas Medicine during the fourth quarter worth approximately $40,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in Editas Medicine by 34.2% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,160 shares of the company’s stock worth $113,000 after acquiring an additional 1,314 shares in the last quarter. Ancora Advisors LLC acquired a new position in Editas Medicine during the third quarter worth $127,000. TRUE Private Wealth Advisors acquired a new position in Editas Medicine during the third quarter worth $137,000. Finally, Edge Wealth Management LLC acquired a new stake in shares of Editas Medicine in the fourth quarter valued at $160,000. Hedge funds and other institutional investors own 69.12% of the company’s stock.
A number of research firms recently commented on EDIT. BTIG Research began coverage on shares of Editas Medicine in a research report on Thursday. They issued a “buy” rating and a $30.00 target price on the stock. ValuEngine cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Zacks Investment Research cut shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. BidaskClub cut shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Friday, January 25th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.50.
Editas Medicine Company Profile
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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