Cerity Partners LLC Buys Shares of 49,060 Editas Medicine, Inc. (NASDAQ:EDIT)

Cerity Partners LLC bought a new stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 49,060 shares of the company’s stock, valued at approximately $57,000. Cerity Partners LLC owned approximately 0.06% of Editas Medicine at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in EDIT. Two Sigma Advisers LP increased its position in shares of Editas Medicine by 46.8% during the 4th quarter. Two Sigma Advisers LP now owns 1,657,000 shares of the company’s stock valued at $2,104,000 after purchasing an additional 528,000 shares during the period. Two Sigma Investments LP increased its position in shares of Editas Medicine by 21.4% during the 4th quarter. Two Sigma Investments LP now owns 1,649,072 shares of the company’s stock valued at $2,094,000 after purchasing an additional 290,483 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Editas Medicine during the 4th quarter valued at $1,843,000. Balyasny Asset Management L.P. increased its position in shares of Editas Medicine by 647.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,300,604 shares of the company’s stock valued at $1,652,000 after purchasing an additional 1,126,569 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Editas Medicine by 30.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,170,000 shares of the company’s stock valued at $1,486,000 after purchasing an additional 272,467 shares during the period. Institutional investors own 71.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on EDIT. Cantor Fitzgerald upgraded Editas Medicine from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 29th. HC Wainwright assumed coverage on Editas Medicine in a report on Monday, April 28th. They issued a “buy” rating and a $3.00 target price on the stock. Robert W. Baird decreased their target price on Editas Medicine from $8.00 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, May 13th. Finally, Wall Street Zen upgraded Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $4.70.

Insider Transactions at Editas Medicine

In related news, CEO Gilmore Neil O’neill sold 15,192 shares of Editas Medicine stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $1.72, for a total transaction of $26,130.24. Following the completion of the sale, the chief executive officer owned 280,282 shares of the company’s stock, valued at approximately $482,085.04. This trade represents a 5.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 16,364 shares of company stock worth $28,146 over the last ninety days. 2.10% of the stock is currently owned by company insiders.

Editas Medicine Trading Down 2.7%

Shares of EDIT stock opened at $2.52 on Thursday. Editas Medicine, Inc. has a 1-year low of $0.91 and a 1-year high of $5.70. The company has a market capitalization of $210.95 million, a price-to-earnings ratio of -0.83 and a beta of 2.15. The stock’s fifty day simple moving average is $2.37 and its 200-day simple moving average is $1.75.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.08. Editas Medicine had a negative return on equity of 139.24% and a negative net margin of 701.06%. The business had revenue of $4.66 million for the quarter, compared to the consensus estimate of $0.79 million. During the same quarter in the previous year, the company posted ($76.00) earnings per share. On average, sell-side analysts predict that Editas Medicine, Inc. will post -2.71 EPS for the current year.

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.