Editas Medicine Target of Unusually Large Options Trading (EDIT)

Editas Medicine Inc (NASDAQ:EDIT) was the recipient of some unusual options trading activity on Monday. Stock traders acquired 4,502 call options on the stock. This represents an increase of approximately 1,133% compared to the average volume of 365 call options.

Shares of EDIT opened at $31.79 on Tuesday. Editas Medicine has a 12 month low of $22.50 and a 12 month high of $45.02. The firm has a market cap of $1.49 billion, a PE ratio of -10.67 and a beta of 3.19. The company has a current ratio of 13.14, a quick ratio of 13.13 and a debt-to-equity ratio of 0.15.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings results on Wednesday, November 7th. The company reported ($0.32) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.72) by $0.40. Editas Medicine had a negative net margin of 410.68% and a negative return on equity of 53.15%. The company had revenue of $14.52 million for the quarter, compared to analyst estimates of $9.83 million. During the same quarter in the prior year, the business posted ($0.64) EPS. Editas Medicine’s quarterly revenue was up 131.2% on a year-over-year basis. Equities research analysts forecast that Editas Medicine will post -2.18 earnings per share for the current fiscal year.

In other Editas Medicine news, CFO Andrew A. F. Hack sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $32.08, for a total value of $256,640.00. Following the transaction, the chief financial officer now owns 8,000 shares in the company, valued at approximately $256,640. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Katrine Bosley sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $26.88, for a total transaction of $322,560.00. Following the completion of the transaction, the insider now owns 1,237,566 shares in the company, valued at approximately $33,265,774.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,284 shares of company stock worth $1,575,135. Company insiders own 5.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Editas Medicine by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock worth $118,675,000 after buying an additional 141,609 shares during the period. BlackRock Inc. boosted its holdings in shares of Editas Medicine by 3.9% during the 3rd quarter. BlackRock Inc. now owns 3,589,141 shares of the company’s stock worth $114,207,000 after buying an additional 134,075 shares during the period. ARK Investment Management LLC boosted its holdings in shares of Editas Medicine by 28.1% during the 3rd quarter. ARK Investment Management LLC now owns 2,793,854 shares of the company’s stock worth $88,900,000 after buying an additional 612,282 shares during the period. Morgan Stanley boosted its holdings in shares of Editas Medicine by 9.9% during the 2nd quarter. Morgan Stanley now owns 2,069,280 shares of the company’s stock worth $74,142,000 after buying an additional 186,018 shares during the period. Finally, Credit Suisse AG boosted its holdings in shares of Editas Medicine by 40.9% during the 3rd quarter. Credit Suisse AG now owns 783,088 shares of the company’s stock worth $24,918,000 after buying an additional 227,266 shares during the period. Institutional investors own 68.79% of the company’s stock.

Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating in a research note on Tuesday. Guggenheim assumed coverage on shares of Editas Medicine in a research note on Tuesday, October 9th. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Tuesday, November 13th. JPMorgan Chase & Co. set a $36.00 price objective on shares of Editas Medicine and gave the company a “hold” rating in a research note on Monday, August 6th. Finally, Raymond James assumed coverage on shares of Editas Medicine in a research note on Friday, September 21st. They issued an “outperform” rating and a $40.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $45.50.

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Editas Medicine Company Profile

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

Further Reading: How do investors use RSI to grade stocks?

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