Editas Medicine, Inc. (NASDAQ:EDIT) was up 0% during trading on Friday . The company traded as high as $24.47 and last traded at $24.38. Approximately 753,699 shares traded hands during trading, a decline of 18% from the average daily volume of 918,723 shares. The stock had previously closed at $24.38.
A number of equities research analysts have commented on EDIT shares. Cann started coverage on Editas Medicine in a research report on Monday, July 17th. They set a “market perform” rating for the company. Barclays PLC started coverage on Editas Medicine in a research report on Wednesday, September 6th. They set an “overweight” rating and a $28.00 price objective for the company. Zacks Investment Research upgraded Editas Medicine from a “sell” rating to a “hold” rating in a research report on Monday, October 16th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Editas Medicine in a report on Tuesday, July 18th. Finally, ValuEngine lowered Editas Medicine from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.73.
The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.74 and a current ratio of 10.12.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.04). Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The firm had revenue of $6.28 million for the quarter, compared to analyst estimates of $2.66 million. During the same quarter in the prior year, the firm earned ($0.59) earnings per share. The firm’s quarterly revenue was up 553.0% compared to the same quarter last year. research analysts expect that Editas Medicine, Inc. will post -2.86 earnings per share for the current fiscal year.
In related news, CEO Katrine Bosley sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $20.42, for a total value of $204,200.00. Following the transaction, the chief executive officer now directly owns 1,414,629 shares of the company’s stock, valued at approximately $28,886,724.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 43,332 shares of company stock worth $946,504 over the last three months. 19.40% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. IHT Wealth Management LLC bought a new position in shares of Editas Medicine in the 2nd quarter valued at approximately $107,000. Great West Life Assurance Co. Can raised its stake in shares of Editas Medicine by 519.9% in the 3rd 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Editas Medicine in the 2nd quarter valued at approximately $127,000. Bank of America Corp DE raised its stake in shares of Editas Medicine by 72.2% in the 1st quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock valued at $133,000 after acquiring an additional 2,489 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Editas Medicine by 308.4% in the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock valued at $145,000 after acquiring an additional 6,535 shares in the last quarter. 70.51% 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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