ValuEngine cut shares of Editas Medicine (NASDAQ:EDIT) from a hold rating to a sell rating in a report published on Monday, February 4th.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Editas Medicine from a buy rating to a hold rating in a report on Friday, February 1st. BidaskClub downgraded Editas Medicine from a hold rating to a sell rating in a report on Friday, January 25th. JPMorgan Chase & Co. reissued a hold rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Cowen reaffirmed a buy rating on shares of Editas Medicine in a report on Tuesday, January 22nd. Finally, Chardan Capital reaffirmed a buy rating and set a $55.00 target price on shares of Editas Medicine in a report on Tuesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $42.50.
NASDAQ EDIT traded up $3.01 during trading on Monday, hitting $23.64. The company’s stock had a trading volume of 2,520,247 shares, compared to its average volume of 781,715. The company has a debt-to-equity ratio of 0.15, a quick ratio of 13.13 and a current ratio of 13.14. The company has a market cap of $1.13 billion, a PE ratio of -10.15 and a beta of 2.56. Editas Medicine has a fifty-two week low of $17.80 and a fifty-two week high of $45.02.
In related news, insider Vickesh Myer sold 3,000 shares of Editas Medicine stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $20.42, for a total transaction of $61,260.00. Following the completion of the transaction, the insider now directly owns 3,000 shares in the company, valued at $61,260. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Andrew A. F. Hack sold 6,895 shares of Editas Medicine stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $21.39, for a total value of $147,484.05. Following the transaction, the chief financial officer now owns 6,895 shares of the company’s stock, valued at $147,484.05. The disclosure for this sale can be found here. Insiders have sold 54,895 shares of company stock valued at $1,430,174 in the last ninety days. Corporate insiders own 5.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Voya Investment Management LLC increased its position in shares of Editas Medicine by 13.4% in the second quarter. Voya Investment Management LLC now owns 17,849 shares of the company’s stock valued at $640,000 after buying an additional 2,110 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of Editas Medicine in the second quarter valued at approximately $1,815,000. Schroder Investment Management Group purchased a new stake in shares of Editas Medicine in the second quarter valued at approximately $780,000. Northern Trust Corp increased its position in shares of Editas Medicine by 24.5% in the second quarter. Northern Trust Corp now owns 522,762 shares of the company’s stock valued at $18,732,000 after buying an additional 102,901 shares in the last quarter. Finally, First American Bank purchased a new stake in shares of Editas Medicine in the third quarter valued at approximately $417,000. Institutional investors own 69.92% of the company’s stock.
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.
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