Edge Wealth Management LLC Buys New Holdings in Editas Medicine Inc (EDIT)

Edge Wealth Management LLC bought a new position in shares of Editas Medicine Inc (NASDAQ:EDIT) in the fourth quarter, HoldingsChannel.com reports. The fund bought 7,035 shares of the company’s stock, valued at approximately $160,000.

Other large investors have also modified their holdings of the company. Ancora Advisors LLC bought a new stake in Editas Medicine during the third quarter worth approximately $127,000. TRUE Private Wealth Advisors purchased a new stake in shares of Editas Medicine in the 3rd quarter valued at approximately $137,000. HBK Sorce Advisory LLC purchased a new stake in shares of Editas Medicine in the 3rd quarter valued at approximately $203,000. Tower Research Capital LLC TRC lifted its position in shares of Editas Medicine by 7,045.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,931 shares of the company’s stock valued at $221,000 after acquiring an additional 6,834 shares in the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of Editas Medicine in the 3rd quarter valued at approximately $237,000. Hedge funds and other institutional investors own 68.76% of the company’s stock.

In other Editas Medicine news, CEO Katrine Bosley sold 12,000 shares of the stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $25.27, for a total value of $303,240.00. Following the completion of the sale, the chief executive officer now owns 1,204,966 shares in the company, valued at approximately $30,449,490.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andrew A. F. Hack sold 7,000 shares of the stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $22.48, for a total transaction of $157,360.00. Following the completion of the sale, the chief financial officer now owns 7,000 shares of the company’s stock, valued at approximately $157,360. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,284 shares of company stock valued at $1,886,175. Insiders own 5.20% of the company’s stock.

Shares of NASDAQ:EDIT opened at $26.20 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 13.14 and a quick ratio of 13.13. The company has a market capitalization of $1.26 billion, a P/E ratio of -8.79 and a beta of 3.07. Editas Medicine Inc has a 52 week low of $17.80 and a 52 week high of $45.02.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Wednesday, November 7th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.40. Editas Medicine had a negative net margin of 410.68% and a negative return on equity of 53.15%. The company had revenue of $14.52 million during the quarter, compared to the consensus estimate of $9.83 million. During the same quarter in the prior year, the firm earned ($0.64) EPS. The company’s revenue was up 131.2% compared to the same quarter last year. On average, research analysts expect that Editas Medicine Inc will post -2.18 earnings per share for the current year.

Several equities research analysts recently commented on EDIT shares. Raymond James started coverage on shares of Editas Medicine in a research report on Friday, September 21st. They issued an “outperform” rating and a $40.00 price target for the company. JPMorgan Chase & Co. restated a “hold” rating on shares of Editas Medicine in a research report on Thursday. BidaskClub downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Thursday, December 20th. ValuEngine downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Friday, December 21st. Finally, SunTrust Banks restated a “buy” rating on shares of Editas Medicine in a research report on Monday, December 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Editas Medicine presently has an average rating of “Hold” and a consensus price target of $45.50.

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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.

Read More: Derivative

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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