Squarepoint Ops LLC Sells 204,276 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Squarepoint Ops LLC trimmed its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 22.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 694,180 shares of the company’s stock after selling 204,276 shares during the quarter. Squarepoint Ops LLC owned about 0.84% of Editas Medicine worth $3,242,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Koss Olinger Consulting LLC acquired a new position in shares of Editas Medicine during the 2nd quarter valued at about $47,000. Hoylecohen LLC bought a new stake in shares of Editas Medicine during the 2nd quarter worth $55,000. Spectrum Planning & Advisory Services Inc. acquired a new position in Editas Medicine in the 2nd quarter valued at $57,000. Aries Wealth Management bought a new position in Editas Medicine in the 2nd quarter worth $65,000. Finally, Headlands Technologies LLC lifted its position in Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after acquiring an additional 7,861 shares during the last quarter. 71.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Editas Medicine news, EVP Linda Burkly sold 11,886 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 73,136 shares in the company, valued at $396,397.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Baisong Mei sold 6,619 shares of the firm’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $5.21, for a total transaction of $34,484.99. Following the completion of the sale, the executive vice president now owns 134,413 shares of the company’s stock, valued at $700,291.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Linda Burkly sold 11,886 shares of the business’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 in the company, valued at $396,397.12. The disclosure for this sale can be found here. Insiders sold 20,578 shares of company stock worth $105,997 in the last 90 days. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Truist Financial lowered their price target on Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Bank of America raised Editas Medicine from a “neutral” rating to a “buy” rating and increased their price objective for the company from $13.00 to $15.00 in a research report on Thursday, August 8th. Barclays dropped their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $8.00 price target on shares of Editas Medicine in a report on Thursday, September 19th. Finally, Oppenheimer restated a “market perform” rating and set a $12.00 price objective on shares of Editas Medicine in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.22.

Editas Medicine Stock Performance

NASDAQ:EDIT opened at $3.27 on Wednesday. The company has a 50-day moving average of $4.11 and a 200-day moving average of $5.19. Editas Medicine, Inc. has a 52 week low of $3.22 and a 52 week high of $11.69. The company has a market capitalization of $268.92 million, a price-to-earnings ratio of -1.55 and a beta of 1.99.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.12). Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The business had revenue of $0.51 million for the quarter, compared to the consensus estimate of $4.78 million. During the same quarter in the prior year, the business earned ($0.56) EPS. The firm’s revenue for the quarter was down 82.2% on a year-over-year basis. Sell-side analysts forecast that Editas Medicine, Inc. will post -2.97 EPS for the current year.

Editas Medicine 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.