Rhumbline Advisers Buys 3,862 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Rhumbline Advisers boosted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,986 shares of the company’s stock after purchasing an additional 3,862 shares during the period. Rhumbline Advisers owned about 0.17% of Editas Medicine worth $644,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Editas Medicine by 1.1% during the first quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after buying an additional 93,740 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Editas Medicine by 40.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock worth $24,236,000 after purchasing an additional 690,366 shares during the last quarter. Raymond James & Associates grew its stake in shares of Editas Medicine by 49.7% during the 2nd quarter. Raymond James & Associates now owns 526,815 shares of the company’s stock valued at $2,460,000 after purchasing an additional 174,993 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Editas Medicine by 59.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 314,774 shares of the company’s stock valued at $2,246,000 after buying an additional 116,803 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Editas Medicine by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 296,154 shares of the company’s stock valued at $1,383,000 after purchasing an additional 11,332 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Analysts Set New Price Targets

EDIT has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $8.00 price objective on shares of Editas Medicine in a research note on Thursday, September 19th. Oppenheimer reiterated a “market perform” rating and issued a $12.00 price target on shares of Editas Medicine in a report on Tuesday, June 18th. Bank of America upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and increased their target price for the stock from $13.00 to $15.00 in a report on Thursday, August 8th. Truist Financial lowered their price target on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Barclays reduced their price target on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $10.90.

Insider Buying and Selling

In related news, EVP Linda Burkly sold 11,886 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $5.42, for a total value of $64,422.12. Following the completion of the transaction, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at $396,397.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Baisong Mei sold 6,619 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $5.21, for a total value of $34,484.99. Following the completion of the transaction, the executive vice president now directly owns 134,413 shares of the company’s stock, valued at $700,291.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Linda Burkly sold 11,886 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $5.42, for a total value of $64,422.12. Following the completion of the transaction, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at $396,397.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,578 shares of company stock worth $105,997. Company insiders own 1.90% of the company’s stock.

Editas Medicine Stock Down 3.6 %

Shares of EDIT opened at $3.53 on Wednesday. The firm’s fifty day moving average is $4.26 and its two-hundred day moving average is $5.33. The stock has a market cap of $290.30 million, a PE ratio of -1.68 and a beta of 1.99. Editas Medicine, Inc. has a 52-week low of $3.40 and a 52-week high of $11.69.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.12). The company had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $4.78 million. Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The firm’s quarterly revenue was down 82.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.56) earnings per share. As a group, research analysts anticipate that Editas Medicine, Inc. will post -2.97 earnings per share 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.