Raymond James Financial Services Advisors Inc. Acquires 13,574 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Raymond James Financial Services Advisors Inc. lifted its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 29.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,170 shares of the company’s stock after purchasing an additional 13,574 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Editas Medicine were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in EDIT. Covestor Ltd raised its holdings in shares of Editas Medicine by 9,693.3% in the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after buying an additional 1,454 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Editas Medicine by 81.4% in the third quarter. Lazard Asset Management LLC now owns 4,595 shares of the company’s stock valued at $35,000 after buying an additional 2,062 shares during the last quarter. Clear Street Markets LLC bought a new position in shares of Editas Medicine in the third quarter valued at about $44,000. Quantbot Technologies LP bought a new position in shares of Editas Medicine in the first quarter valued at about $44,000. Finally, Amalgamated Bank raised its holdings in Editas Medicine by 18.0% during the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock worth $63,000 after purchasing an additional 1,226 shares during the last quarter. 71.90% of the stock is owned by institutional investors.

Insider Activity at Editas Medicine

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

Editas Medicine Price Performance

Shares of EDIT stock opened at $5.61 on Thursday. The stock has a market cap of $458.95 million, a PE ratio of -2.74 and a beta of 2.01. The stock has a 50-day moving average of $7.88 and a 200-day moving average of $8.42. Editas Medicine, Inc. has a one year low of $5.60 and a one year high of $11.91.

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

Wall Street Analysts Forecast Growth

EDIT has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price objective on Editas Medicine from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Barclays boosted their price objective on Editas Medicine from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. StockNews.com raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, Citigroup boosted their price objective on Editas Medicine from $11.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

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.