Insider Selling: Editas Medicine Inc (EDIT) CFO Sells $121,550.00 in Stock

Editas Medicine Inc (NASDAQ:EDIT) CFO Andrew A. F. Hack sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $24.31, for a total value of $121,550.00. Following the sale, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $121,550. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Editas Medicine Inc (EDIT) traded up $1.82 during midday trading on Friday, reaching $26.71. The company’s stock had a trading volume of 1,948,600 shares, compared to its average volume of 951,886. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12. Editas Medicine Inc has a 52 week low of $13.12 and a 52 week high of $31.81.

Editas Medicine (NASDAQ:EDIT) last released its earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.04). The firm had revenue of $6.28 million during the quarter, compared to analyst estimates of $2.66 million. Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The business’s revenue was up 553.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.59) earnings per share. sell-side analysts forecast that Editas Medicine Inc will post -2.92 earnings per share for the current fiscal year.

EDIT has been the subject of a number of recent analyst reports. Barclays initiated coverage on Editas Medicine in a research report on Wednesday, September 6th. They set an “overweight” rating and a $28.00 price objective for the company. ValuEngine raised Editas Medicine from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Morgan Stanley reissued an “equal weight” rating and set a $28.00 price objective (up from $27.00) on shares of Editas Medicine in a research report on Friday, October 6th. Zacks Investment Research downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Editas Medicine currently has an average rating of “Hold” and a consensus target price of $26.73.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC acquired a new position in Editas Medicine in the 2nd quarter valued at about $107,000. Great West Life Assurance Co. Can boosted its stake in shares of Editas Medicine by 519.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock valued at $114,000 after buying an additional 4,159 shares during the period. Bank of America Corp DE boosted its stake in shares of Editas Medicine by 72.2% in the 1st quarter. Bank of America Corp DE now owns 5,936 shares of the company’s stock valued at $133,000 after buying an additional 2,489 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in shares of Editas Medicine in the 2nd quarter valued at about $127,000. Finally, Legal & General Group Plc boosted its stake in shares of Editas Medicine by 308.4% in the 2nd quarter. Legal & General Group Plc now owns 8,654 shares of the company’s stock valued at $145,000 after buying an additional 6,535 shares during the period. 65.74% of the stock is owned by institutional investors.

TRADEMARK VIOLATION WARNING: This report was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.com-unik.info/2017/12/22/insider-selling-editas-medicine-inc-edit-cfo-sells-121550-00-in-stock.html.

About Editas Medicine

Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.

Insider Buying and Selling by Quarter for Editas Medicine (NASDAQ:EDIT)

Receive News & Ratings for Editas Medicine Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Editas Medicine and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit