Mirae Asset Global Investments Co. Ltd. Sells 177,556 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Mirae Asset Global Investments Co. Ltd. lowered its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 47.3% during the fourth quarter, HoldingsChannel reports. The fund owned 197,971 shares of the company’s stock after selling 177,556 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Editas Medicine were worth $2,005,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd grew its position in Editas Medicine by 9,693.3% during the 1st quarter. Covestor Ltd now owns 1,469 shares of the company’s stock worth $28,000 after acquiring an additional 1,454 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Editas Medicine by 81.4% during the 3rd quarter. Lazard Asset Management LLC now owns 4,595 shares of the company’s stock worth $35,000 after buying an additional 2,062 shares during the period. Clear Street Markets LLC acquired a new position in Editas Medicine during the 3rd quarter worth about $44,000. Quantbot Technologies LP acquired a new position in Editas Medicine during the 1st quarter worth about $44,000. Finally, Amalgamated Bank lifted its stake in shares of Editas Medicine by 18.0% in the 3rd quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock valued at $63,000 after purchasing an additional 1,226 shares during the period. Institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

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

Editas Medicine Stock Performance

EDIT stock opened at $5.49 on Friday. The stock’s 50 day simple moving average is $7.81 and its 200 day simple moving average is $8.38. Editas Medicine, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $11.91. The company has a market cap of $451.47 million, a P/E ratio of -2.68 and a beta of 2.01.

Editas Medicine (NASDAQ:EDIT) last posted its quarterly 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. Editas Medicine had a negative return on equity of 42.95% and a negative net margin of 196.12%. The business had revenue of $60.00 million for the quarter, compared to the consensus estimate of $4.84 million. During the same period in the prior year, the business earned ($0.88) EPS. The firm’s revenue for the quarter was up 817.4% on a year-over-year basis. Equities analysts predict that Editas Medicine, Inc. will post -2.61 earnings per share for the current year.

Insider Buying and Selling

In other Editas Medicine 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 transaction of $733,102.08. Following the completion of the sale, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Editas Medicine 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 transaction of $733,102.08. Following the completion of the sale, the chief executive officer now directly owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Baisong Mei sold 20,327 shares of the business’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 value of $191,480.34. Following the sale, the senior vice president now directly owns 141,543 shares of the company’s stock, valued at $1,333,335.06. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.

About Editas Medicine

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.