Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lessened its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 583,747 shares of the company’s stock after selling 2,153 shares during the quarter. Nuveen Asset Management LLC owned about 0.85% of Editas Medicine worth $7,146,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Pictet Asset Management SA increased its stake in shares of Editas Medicine by 37.6% during the 3rd quarter. Pictet Asset Management SA now owns 182,186 shares of the company’s stock valued at $2,230,000 after acquiring an additional 49,782 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Editas Medicine by 11.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 31,405 shares of the company’s stock worth $384,000 after purchasing an additional 3,121 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Editas Medicine by 1.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 240,244 shares of the company’s stock worth $2,941,000 after purchasing an additional 4,028 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in Editas Medicine by 14.1% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 26,495 shares of the company’s stock worth $324,000 after purchasing an additional 3,277 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Editas Medicine during the 3rd quarter worth approximately $281,000. Hedge funds and other institutional investors own 69.67% of the company’s stock.

Editas Medicine Price Performance

Shares of NASDAQ EDIT opened at $7.83 on Monday. Editas Medicine, Inc. has a 1-year low of $7.48 and a 1-year high of $21.59. The business’s fifty day moving average price is $9.24 and its two-hundred day moving average price is $11.01. The firm has a market capitalization of $540.04 million, a PE ratio of -2.44 and a beta of 1.90.

Editas Medicine (NASDAQ:EDIT – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.84) by ($0.04). The company had revenue of $6.54 million during the quarter, compared to analyst estimates of $3.76 million. Editas Medicine had a negative return on equity of 50.28% and a negative net margin of 1,118.32%. Editas Medicine’s quarterly revenue was down 47.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.61) earnings per share. Equities research analysts expect that Editas Medicine, Inc. will post -2.95 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michelle Robertson sold 4,287 shares of the firm’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $9.67, for a total transaction of $41,455.29. Following the transaction, the chief financial officer now directly owns 76,243 shares of the company’s stock, valued at $737,269.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Michelle Robertson sold 4,287 shares of Editas Medicine stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $9.67, for a total transaction of $41,455.29. Following the transaction, the chief financial officer now directly owns 76,243 shares of the company’s stock, valued at $737,269.81. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark S. Shearman sold 2,790 shares of Editas Medicine stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $26,979.30. Following the transaction, the executive vice president now directly owns 65,559 shares in the company, valued at $633,955.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,460 shares of company stock valued at $89,105. Company insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EDIT. Bank of America dropped their target price on shares of Editas Medicine from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Friday, November 18th. Credit Suisse Group increased their target price on Editas Medicine from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, February 23rd. Chardan Capital reduced their target price on Editas Medicine from $35.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. Evercore ISI reduced their target price on Editas Medicine to $8.00 in a research note on Monday, November 21st. Finally, Oppenheimer cut Editas Medicine from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $28.00 to $12.00 in a research note on Thursday, November 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and an average price target of $15.33.

Editas Medicine Profile

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Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.