Arizona State Retirement System Sells 2,674 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Arizona State Retirement System decreased its holdings in Editas Medicine, Inc. (NASDAQ:EDIT) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,539 shares of the company’s stock after selling 2,674 shares during the period. Arizona State Retirement System’s holdings in Editas Medicine were worth $208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EDIT. Bank of New York Mellon Corp increased its stake in shares of Editas Medicine by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 288,878 shares of the company’s stock worth $5,494,000 after purchasing an additional 1,060 shares during the period. MML Investors Services LLC increased its stake in shares of Editas Medicine by 6.2% during the first quarter. MML Investors Services LLC now owns 18,465 shares of the company’s stock worth $134,000 after purchasing an additional 1,079 shares during the period. Wells Fargo & Company MN increased its stake in shares of Editas Medicine by 0.5% during the second quarter. Wells Fargo & Company MN now owns 216,318 shares of the company’s stock worth $1,780,000 after purchasing an additional 1,182 shares during the period. Amalgamated Bank increased its stake in shares of Editas Medicine by 18.0% during the third 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 period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Editas Medicine by 3.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 38,288 shares of the company’s stock worth $388,000 after purchasing an additional 1,384 shares during the period. Institutional investors own 71.90% of the company’s stock.

Analyst Upgrades and Downgrades

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

Editas Medicine Stock Performance

Shares of EDIT stock opened at $5.49 on Monday. The stock’s fifty day moving average price is $7.78 and its two-hundred day moving average price is $8.39. The company has a market cap of $451.50 million, a PE ratio of -2.68 and a beta of 2.01. Editas Medicine, Inc. has a fifty-two week low of $5.28 and a fifty-two week high of $11.91.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share 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 firm had revenue of $60.00 million for the quarter, compared to the consensus estimate of $4.84 million. During the same quarter last year, the business posted ($0.88) EPS. The company’s revenue was up 817.4% compared to the same quarter last year. On average, equities analysts predict that Editas Medicine, Inc. will post -2.61 EPS for the current fiscal year.

Insider Activity at Editas Medicine

In related news, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction 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 transaction, 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 SEC, which can be accessed through the SEC website. In related news, CEO Gilmore Neil O’neill sold 77,824 shares of the firm’s stock in a transaction 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 transaction, 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 SEC, which can be accessed through the SEC website. Also, SVP Baisong Mei sold 20,327 shares of the firm’s stock in a transaction 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 transaction, 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 currently owned by company insiders.

Editas Medicine Company 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.