Schwab Charles Investment Management Inc. increased its position in shares of Editas Medicine Inc (NASDAQ:EDIT) by 18.6% during the third quarter, Holdings Channel reports. The fund owned 117,012 shares of the company’s stock after acquiring an additional 18,366 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Editas Medicine were worth $2,810,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. IHT Wealth Management LLC acquired a new stake in Editas Medicine during the second quarter worth approximately $107,000. Royal Bank of Canada boosted its position in Editas Medicine by 4.1% during the second quarter. Royal Bank of Canada now owns 9,364 shares of the company’s stock worth $157,000 after acquiring an additional 372 shares during the last quarter. ProShare Advisors LLC boosted its position in Editas Medicine by 18.9% during the second quarter. ProShare Advisors LLC now owns 24,211 shares of the company’s stock worth $406,000 after acquiring an additional 3,857 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Editas Medicine by 519.9% during the third quarter. Great West Life Assurance Co. Can now owns 4,959 shares of the company’s stock worth $114,000 after acquiring an additional 4,159 shares during the last quarter. Finally, York Capital Management Global Advisors LLC boosted its position in Editas Medicine by 2.9% during the second quarter. York Capital Management Global Advisors LLC now owns 154,407 shares of the company’s stock worth $2,591,000 after acquiring an additional 4,407 shares during the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.
In other news, CFO Andrew A. F. Hack sold 5,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $24.31, for a total value of $121,550.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $121,550. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Katrine Bosley sold 8,333 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $23.64, for a total transaction of $196,992.12. Following the completion of the transaction, the insider now directly owns 1,393,322 shares in the company, valued at approximately $32,938,132.08. The disclosure for this sale can be found here. In the last three months, insiders sold 61,310 shares of company stock worth $1,689,449. Insiders own 19.40% of the company’s stock.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). The company had revenue of $6.28 million for the quarter, compared to analysts’ expectations of $2.66 million. Editas Medicine had a negative return on equity of 70.19% and a negative net margin of 1,127.03%. The business’s revenue for the quarter was up 553.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.59) EPS. equities analysts expect that Editas Medicine Inc will post -2.92 EPS for the current year.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Editas Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Cowen reaffirmed a “buy” rating on shares of Editas Medicine in a research note on Tuesday, November 7th. BidaskClub downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. ValuEngine downgraded shares of Editas Medicine from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price target (up previously from $27.00) on shares of Editas Medicine in a research note on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $26.73.
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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.
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