Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 233,951 shares of the company’s stock after selling 9,425 shares during the period. Bank of New York Mellon Corp owned approximately 0.28% of Editas Medicine worth $271,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of EDIT. Allspring Global Investments Holdings LLC grew its holdings in Editas Medicine by 45.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,781 shares of the company’s stock worth $40,000 after acquiring an additional 11,252 shares during the period. Brave Asset Management Inc. raised its holdings in Editas Medicine by 250.0% during the 1st quarter. Brave Asset Management Inc. now owns 35,000 shares of the company’s stock worth $41,000 after buying an additional 25,000 shares during the period. Dark Forest Capital Management LP raised its holdings in Editas Medicine by 66.9% during the 4th quarter. Dark Forest Capital Management LP now owns 32,787 shares of the company’s stock worth $42,000 after buying an additional 13,138 shares during the period. Freestone Grove Partners LP acquired a new stake in Editas Medicine during the 4th quarter worth about $46,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Editas Medicine by 144.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 45,017 shares of the company’s stock worth $52,000 after buying an additional 26,601 shares during the period. 71.90% of the stock is owned by institutional investors and hedge funds.

Editas Medicine Trading Up 1.6%

EDIT opened at $2.60 on Wednesday. The stock has a market cap of $217.65 million, a PE ratio of -0.86 and a beta of 2.19. Editas Medicine, Inc. has a 1 year low of $0.91 and a 1 year high of $4.90. The stock’s 50 day simple moving average is $2.44 and its 200-day simple moving average is $1.79.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Gilmore Neil O’neill sold 15,192 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $1.72, for a total value of $26,130.24. Following the sale, the chief executive officer owned 280,282 shares of the company’s stock, valued at $482,085.04. The trade was a 5.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 21,485 shares of company stock valued at $40,897. 1.90% of the stock is owned by 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.