Raymond James & Associates Sells 15,244 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Raymond James & Associates lowered its stake in Editas Medicine, Inc. (NASDAQ:EDIT) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 259,059 shares of the company’s stock after selling 15,244 shares during the quarter. Raymond James & Associates’ holdings in Editas Medicine were worth $2,624,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock valued at $66,582,000 after buying an additional 370,734 shares in the last quarter. State Street Corp lifted its stake in Editas Medicine by 43.8% in the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock valued at $93,219,000 after buying an additional 2,399,852 shares in the last quarter. BlackRock Inc. lifted its stake in Editas Medicine by 2.4% in the second quarter. BlackRock Inc. now owns 7,595,696 shares of the company’s stock valued at $62,513,000 after buying an additional 177,334 shares in the last quarter. Woodline Partners LP lifted its stake in Editas Medicine by 3.9% in the second quarter. Woodline Partners LP now owns 2,749,305 shares of the company’s stock valued at $22,627,000 after buying an additional 102,685 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Editas Medicine by 13.8% in the fourth quarter. Millennium Management LLC now owns 2,142,468 shares of the company’s stock valued at $19,004,000 after buying an additional 259,598 shares in the last quarter. Institutional investors own 71.90% of the company’s stock.

Insider Buying and Selling

In other Editas Medicine news, SVP Baisong Mei sold 20,327 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total value of $191,480.34. Following the transaction, the senior vice president now directly owns 141,543 shares in the company, valued at $1,333,335.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Editas Medicine news, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total value of $733,102.08. Following the transaction, the chief executive officer now directly owns 327,470 shares in the company, valued at $3,084,767.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Baisong Mei sold 20,327 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The disclosure for this sale can be found here. 2.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. StockNews.com upgraded shares of Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Citigroup lifted their price objective on shares of Editas Medicine from $11.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Editas Medicine presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Editas Medicine Trading Down 5.6 %

Shares of EDIT opened at $6.21 on Monday. The company has a market cap of $508.06 million, a price-to-earnings ratio of -3.03 and a beta of 2.01. Editas Medicine, Inc. has a 1-year low of $6.08 and a 1-year high of $11.91. The company’s fifty day simple moving average is $7.92 and its 200 day simple moving average is $8.44.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.29. The business had revenue of $60.00 million for the quarter, compared to the consensus estimate of $4.84 million. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The firm’s revenue for the quarter was up 817.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.88) earnings per share. As a group, research analysts forecast that Editas Medicine, Inc. will post -2.61 earnings per share for the current year.

Editas Medicine Profile

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.