Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 10.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,577 shares of the company after purchasing an additional 1,831 shares during the period. Zurcher Kantonalbank Zurcher Kantonalbank’s stake in Editas Medicine was $372,000 at the end of the last reporting period.
A number of other hedge funds and other institutional investors also changed their positions in the company. State Street Corp increased its position in Editas Medicine shares by 51.7% during the fourth quarter. State Street Corp now owns 3,274,607 shares of the company worth $86,941,000 after purchasing an additional 1,116,589 shares in the last quarter. JPMorgan Chase & Co. increased its position in Editas Medicine shares by 29.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,464,063 shares of the company worth $38,871,000 after buying 336,305 additional shares last quarter. Geode Capital Management LLC increased its position in Editas Medicine by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,220,371 shares of the company valued at $32,400,000 after acquiring an additional 25,283 shares during the period. Millennium Management LLC increased its position in Editas Medicine by 2,783.7% in the 4th quarter. Millennium Management LLC now owns 988,290 shares of the company valued at $26,239,000 after acquiring an additional 1,025,116 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Editas Medicine by 25.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 888,374 shares of the company valued at $23,589,000 after acquiring an additional 178,608 shares during the period. Institutional investors and hedge funds hold 75.48% of the company’s shares.
Insider activity at Editas Medicine
Separately, Executive Vice President Mark S. Shearman sold 5,145 shares of the company in a trade that took place on Wednesday, June 15. The stock was sold at an average price of $10.06, for a total value of $51,758.70. Following the sale, the executive vice president now owns 68,349 shares of the company, valued at approximately $687,590.94. The transaction was disclosed in a filing with the SEC, which is available via this link. In the past 90 days, insiders have sold 8,092 shares of the company valued at $86,233. 0.94% of the shares are held by insiders.
Editas Medication Stock Performance
EDIT stock opened at $14.99 on Friday. Editas Medicine, Inc. has a 1-year low of $9.59 and a 1-year high of $73.03. The stock’s 50-day moving average price is $12.09 and its 200-day moving average price is $16.10. The company has a market capitalization of $1.03 billion, a P/E ratio of -5.49 and a beta of 1.94.
Editas Medicine (NASDAQ:EDIT – Get Rating) last released its results on Wednesday, May 4. The company reported ($0.74) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.81) by $0.07. Editas Médecine posted a negative return on equity of 32.88% and a negative net margin of 721.60%. The company posted revenue of $6.80 million for the quarter, versus analyst estimates of $3.85 million. In the same quarter of the previous year, the company achieved EPS of ($0.86). The turnover of Editas Médecine is up by 4.6% over one year. On average, research analysts predict Editas Medicine, Inc. will post -3.41 earnings per share for the current year.
Changes to analyst ratings
Several equity analysts have recently released EDIT stock reports. Robert W. Baird lowered his price target on Editas Medicine from $44.00 to $33.00 in a Monday, April 18 research report. Oppenheimer lowered his target price on Editas Medicine from $55.00 to $28.00 in a Thursday, May 5 research report. StockNews.com began covering Editas Medicine in a research report on Thursday, March 31. They put a “sell” mark on the stock. Goldman Sachs Group lowered its price target on Editas Medicine from $10.00 to $8.00 and set a “sell” rating on the stock in a Tuesday, May 24 research report. Finally, Morgan Stanley raised its price target on Editas Medicine from $16.00 to $17.00 and gave the stock an “underweight” rating in a Tuesday, April 12 research report. Three investment analysts gave the stock a sell rating, three gave the company a hold rating and four gave the company a buy rating. Based on MarketBeat data, Editas Medicine currently has a consensus rating of “Hold” and an average target price of $33.20.
Company profile Editas Medicine
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Editas Medicine, Inc., a clinical-stage genome editing company, is focused on developing transformative genomic medicines to treat a range of serious diseases. It is developing a proprietary gene editing platform based on CRISPR technology. The Company is developing EDIT-101, which is in a Phase 1/2 clinical trial for Leber 10 congenital amaurosis which leads to hereditary childhood blindness.
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