The Manufacturers Life Insurance Company Purchases 3,089 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

The Manufacturers Life Insurance Company boosted its position in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 10.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,599 shares of the company’s stock after buying an additional 3,089 shares during the period. The Manufacturers Life Insurance Company’s holdings in Editas Medicine were worth $157,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of Editas Medicine by 10.0% during the 2nd quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock valued at $11,486,000 after acquiring an additional 223,012 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Editas Medicine during the first quarter valued at $1,097,000. Integral Health Asset Management LLC grew its stake in shares of Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock worth $3,152,000 after buying an additional 225,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Editas Medicine by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock worth $63,483,000 after buying an additional 93,740 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Editas Medicine by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock worth $369,000 after buying an additional 7,174 shares during the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, EVP Linda Burkly sold 11,886 shares of the 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 transaction, the executive vice president now owns 73,136 shares of the company’s stock, valued at $396,397.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 13,959 shares of company stock valued at $71,512. Corporate insiders own 1.90% of the company’s stock.

Editas Medicine Trading Up 1.5 %

NASDAQ:EDIT opened at $3.36 on Friday. The company has a market cap of $276.32 million, a price-to-earnings ratio of -1.60 and a beta of 1.99. Editas Medicine, Inc. has a twelve month low of $2.91 and a twelve month high of $11.69. The stock has a fifty day simple moving average of $3.61 and a 200-day simple moving average of $4.79.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.82) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.12). The company had revenue of $0.51 million for 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 company’s quarterly revenue was down 82.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.56) EPS. As a group, equities research analysts predict that Editas Medicine, Inc. will post -2.98 EPS for the current fiscal year.

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.