Millennium Management LLC Has $11.49 Million Stock Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Millennium Management LLC raised its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 10.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,459,629 shares of the company’s stock after buying an additional 223,012 shares during the period. Millennium Management LLC owned 2.99% of Editas Medicine worth $11,486,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in EDIT. Campbell & CO Investment Adviser LLC acquired a new position in shares of Editas Medicine in the 4th quarter worth approximately $520,000. Virtu Financial LLC bought a new stake in shares of Editas Medicine during the fourth quarter worth $748,000. Los Angeles Capital Management LLC acquired a new stake in shares of Editas Medicine in the first quarter valued at $1,097,000. China Universal Asset Management Co. Ltd. increased its stake in shares of Editas Medicine by 66.3% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,713 shares of the company’s stock valued at $117,000 after buying an additional 6,263 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in shares of Editas Medicine in the first quarter valued at about $76,000. 71.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Editas Medicine news, EVP Baisong Mei sold 6,619 shares of the business’s stock in a transaction dated 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 approximately $700,291.73. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Linda Burkly sold 11,886 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at approximately $396,397.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Baisong Mei sold 6,619 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $5.21, for a total value of $34,484.99. Following the transaction, the executive vice president now owns 134,413 shares of the company’s stock, valued at approximately $700,291.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,578 shares of company stock valued at $105,997. 1.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Editas Medicine Trading Down 5.0 %

Editas Medicine stock opened at $3.21 on Tuesday. The firm has a market capitalization of $263.98 million, a P/E ratio of -1.53 and a beta of 1.99. The business has a 50-day moving average of $3.88 and a 200-day moving average of $5.03. Editas Medicine, Inc. has a 1 year low of $3.15 and a 1 year high of $11.69.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.12). The firm had revenue of $0.51 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 82.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.56) EPS. Research analysts anticipate that Editas Medicine, Inc. will post -2.97 EPS for the current fiscal 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.