New York State Common Retirement Fund raised its holdings in Editas Medicine Inc (NASDAQ:EDIT) by 47.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,376 shares of the company’s stock after purchasing an additional 17,276 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Editas Medicine worth $1,282,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of EDIT. IHT Wealth Management LLC acquired a new stake in shares of Editas Medicine in the 2nd quarter valued at $107,000. Legal & General Group Plc boosted its holdings 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 purchasing an additional 6,535 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Editas Medicine by 4.1% in the 2nd quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock valued at $157,000 after purchasing an additional 372 shares in the last quarter. Airain ltd acquired a new stake in shares of Editas Medicine in the 2nd quarter valued at $255,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Editas Medicine in the 2nd quarter valued at $258,000. 65.70% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Katrine Bosley sold 8,333 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $23.64, for a total transaction of $196,992.12. Following the completion of the transaction, the insider now directly owns 1,393,322 shares of the company’s stock, valued at approximately $32,938,132.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew A. F. Hack sold 5,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $24.81, for a total value of $124,050.00. Following the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $124,050. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,315 shares of company stock valued at $1,177,370. 19.40% of the stock is owned by corporate insiders.
Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). The firm had revenue of $6.28 million during the quarter, compared to the consensus estimate of $2.66 million. Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The firm’s revenue was up 553.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.59) earnings per share. sell-side analysts predict that Editas Medicine Inc will post -2.92 earnings per share for the current fiscal year.
A number of brokerages have weighed in on EDIT. BidaskClub raised Editas Medicine from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. ValuEngine downgraded Editas Medicine from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research downgraded Editas Medicine from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 price target (up from $27.00) on shares of Editas Medicine in a research note on Friday, October 6th. Finally, Cann reiterated a “hold” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.73.
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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