“Editas Medicine announced on February 16 the appointment of Jessica Hopfield, Ph.D., to its Board of Directors, effective immediately. Dr. Hopfield is currently the Chairperson of the Board of Trustees of the Joslin Diabetes Center and serves as Lead Independent Director on the Board of Directors of Insulet Corporation. We believe Dr. Hopfield will bring significant commercial and operational experience to the Editas board.”,” Cann’s analyst commented.
A number of other brokerages also recently commented on EDIT. CLSA started coverage on shares of Editas Medicine in a research report on Tuesday, February 13th. They issued an underperform rating for the company. SunTrust Banks raised shares of Editas Medicine from a hold rating to a buy rating and raised their price objective for the stock from $17.00 to $45.00 in a research note on Tuesday, January 23rd. Zacks Investment Research cut shares of Editas Medicine from a hold rating to a sell rating in a research note on Tuesday, January 9th. Cowen restated a buy rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Finally, BidaskClub lowered shares of Editas Medicine from a buy rating to a hold rating in a research report on Thursday, December 7th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $40.02.
Shares of Editas Medicine (NASDAQ EDIT) traded up $0.09 during midday trading on Friday, reaching $41.51. The company’s stock had a trading volume of 872,342 shares, compared to its average volume of 1,690,000. Editas Medicine has a 52 week low of $13.12 and a 52 week high of $45.02. The company has a current ratio of 9.05, a quick ratio of 9.05 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1,950.00 and a price-to-earnings ratio of -13.88.
Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Tuesday, March 6th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.09). Editas Medicine had a negative net margin of 876.49% and a negative return on equity of 61.92%. The business had revenue of $3.70 million during the quarter, compared to analysts’ expectations of $4.25 million. During the same period last year, the company earned ($1.10) EPS. The business’s quarterly revenue was up 311.1% compared to the same quarter last year. analysts predict that Editas Medicine will post -3.23 EPS for the current fiscal year.
In other news, insider Katrine Bosley sold 14,995 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $34.15, for a total value of $512,079.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew A. F. Hack sold 5,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $24.31, for a total transaction of $121,550.00. Following the sale, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $121,550. The disclosure for this sale can be found here. Insiders have sold a total of 101,782 shares of company stock worth $3,514,684 in the last ninety days. 19.40% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of EDIT. Farallon Capital Management LLC acquired a new stake in shares of Editas Medicine in the 4th quarter worth approximately $15,826,000. ARK Investment Management LLC raised its holdings in shares of Editas Medicine by 61.8% during the fourth quarter. ARK Investment Management LLC now owns 1,112,845 shares of the company’s stock valued at $34,198,000 after acquiring an additional 424,975 shares during the period. State Street Corp raised its holdings in shares of Editas Medicine by 305.4% during the second quarter. State Street Corp now owns 537,640 shares of the company’s stock valued at $9,022,000 after acquiring an additional 405,022 shares during the period. American Century Companies Inc. acquired a new stake in shares of Editas Medicine during the third quarter valued at approximately $7,497,000. Finally, Ark Investment Management LLC raised its holdings in shares of Editas Medicine by 121.9% during the second quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock valued at $8,561,000 after acquiring an additional 280,265 shares during the period. 72.40% of the stock is owned by institutional investors.
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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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