HB Wealth Management LLC Makes New $76,000 Investment in Editas Medicine, Inc. (NASDAQ:EDIT)

HB Wealth Management LLC bought a new position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,198 shares of the company’s stock, valued at approximately $76,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Editas Medicine by 4.5% in the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock worth $66,582,000 after buying an additional 370,734 shares in the last quarter. Jump Financial LLC raised its position in shares of Editas Medicine by 42.0% in the fourth quarter. Jump Financial LLC now owns 28,159 shares of the company’s stock worth $285,000 after buying an additional 8,329 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Editas Medicine by 1,183.6% in the fourth quarter. International Assets Investment Management LLC now owns 288,269 shares of the company’s stock worth $28,457,000 after buying an additional 265,812 shares in the last quarter. Trexquant Investment LP increased its stake in Editas Medicine by 28.9% in the fourth quarter. Trexquant Investment LP now owns 241,754 shares of the company’s stock valued at $2,449,000 after acquiring an additional 54,245 shares during the last quarter. Finally, Seven Eight Capital LP bought a new position in Editas Medicine in the fourth quarter valued at $1,482,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Insider Transactions at Editas Medicine

In other news, CEO Gilmore Neil O’neill sold 12,191 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.50, for a total transaction of $67,050.50. Following the completion of the sale, the chief executive officer now directly owns 315,279 shares in the company, valued at $1,734,034.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Editas Medicine news, CEO Gilmore Neil O’neill sold 12,191 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $5.50, for a total value of $67,050.50. Following the completion of the sale, the chief executive officer now directly owns 315,279 shares in the company, valued at $1,734,034.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jessica Hopfield acquired 45,000 shares of the stock in a transaction on Monday, May 13th. The stock was bought at an average price of $5.64 per share, with a total value of $253,800.00. Following the completion of the acquisition, the director now directly owns 67,700 shares of the company’s stock, valued at $381,828. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on EDIT. Barclays reduced their target price on Editas Medicine from $11.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 9th. Citigroup reduced their target price on Editas Medicine from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. StockNews.com cut Editas Medicine from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. Morgan Stanley raised Editas Medicine from an “underweight” rating to an “equal weight” rating and set a $7.00 target price on the stock in a research note on Thursday, May 9th. Finally, Oppenheimer reaffirmed a “market perform” rating and set a $12.00 price objective on shares of Editas Medicine in a research note on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Editas Medicine currently has a consensus rating of “Hold” and a consensus target price of $12.90.

Editas Medicine Stock Performance

Shares of Editas Medicine stock traded down $0.15 during trading on Friday, reaching $4.51. 701,445 shares of the stock were exchanged, compared to its average volume of 1,964,729. The stock’s fifty day moving average is $5.33 and its 200 day moving average is $7.16. Editas Medicine, Inc. has a 1 year low of $4.45 and a 1 year high of $11.69.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Wednesday, May 8th. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.13). The firm had revenue of $1.10 million for the quarter, compared to analysts’ expectations of $11.14 million. Editas Medicine had a negative return on equity of 47.34% and a negative net margin of 239.36%. The business’s revenue for the quarter was down 88.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.71) earnings per share. Sell-side analysts expect that Editas Medicine, Inc. will post -2.7 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.