HB Wealth Management LLC Takes $76,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

HB Wealth Management LLC purchased a new stake in Editas Medicine, Inc. (NASDAQ:EDITFree Report) in the first quarter, Holdings Channel.com reports. The fund purchased 10,198 shares of the company’s stock, valued at approximately $76,000.

A number of other large investors have also made changes to their positions in EDIT. Russell Investments Group Ltd. grew its holdings in shares of Editas Medicine by 401.9% during the fourth quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock worth $53,000 after buying an additional 4,156 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Editas Medicine by 351.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 9,450 shares of the company’s stock worth $96,000 after purchasing an additional 7,355 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Editas Medicine during the fourth quarter worth $111,000. Public Employees Retirement System of Ohio bought a new stake in shares of Editas Medicine in the fourth quarter worth $137,000. Finally, Thrive Wealth Management LLC bought a new stake in shares of Editas Medicine in the fourth quarter worth $187,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Insider Activity at Editas Medicine

In related news, CEO Gilmore Neil O’neill sold 12,191 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.50, for a total value of $67,050.50. Following the completion of the transaction, the chief executive officer now owns 315,279 shares in the company, valued at approximately $1,734,034.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gilmore Neil O’neill sold 12,191 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.50, for a total value of $67,050.50. Following the completion of the transaction, the chief executive officer now owns 315,279 shares in the company, valued at approximately $1,734,034.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jessica Hopfield bought 45,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was bought at an average price of $5.64 per share, with a total value of $253,800.00. Following the transaction, the director now directly owns 67,700 shares in the company, valued at $381,828. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

Editas Medicine Stock Down 3.2 %

EDIT stock traded down $0.15 during trading on Friday, hitting $4.51. 701,445 shares of the company’s stock traded hands, compared to its average volume of 1,964,729. Editas Medicine, Inc. has a 52 week low of $4.45 and a 52 week high of $11.69. The stock has a fifty day moving average price of $5.33 and a two-hundred day moving average price of $7.16.

Editas Medicine (NASDAQ:EDITGet Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.13). Editas Medicine had a negative net margin of 239.36% and a negative return on equity of 47.34%. The firm had revenue of $1.10 million for the quarter, compared to analyst estimates of $11.14 million. During the same period last year, the firm posted ($0.71) EPS. The business’s revenue was down 88.9% compared to the same quarter last year. Research analysts predict that Editas Medicine, Inc. will post -2.7 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EDIT. Barclays dropped their price target on shares of Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday, May 9th. Evercore ISI dropped their price target on shares of Editas Medicine from $15.00 to $7.00 and set an “in-line” rating for the company in a research note on Thursday, May 30th. StockNews.com lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Oppenheimer restated a “market perform” rating and issued a $12.00 price target on shares of Editas Medicine in a research note on Tuesday, June 18th. Finally, Citigroup dropped their price target on shares of Editas Medicine from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $12.90.

Read Our Latest Stock Report on Editas Medicine

Editas Medicine Profile

(Free Report)

Editas Medicine, Inc, a clinical stage genome editing company, focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary gene editing platform based on CRISPR technology. The company develops EDIT-101, which is in Phase 1/2 BRILLIANCE trial for Leber Congenital Amaurosis; and reni-cel, a clinical development gene-edited medicine to treat sickle cell disease and transfusion-dependent beta-thalassemia.

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

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