Norges Bank bought a new stake in shares of Editas Medicine Inc (NASDAQ:EDIT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 308,665 shares of the company’s stock, valued at approximately $7,022,000.
Other large investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC acquired a new stake in Editas Medicine during the 3rd quarter valued at approximately $9,549,000. Bank of New York Mellon Corp increased its position in Editas Medicine by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 198,851 shares of the company’s stock valued at $6,327,000 after purchasing an additional 5,579 shares during the period. Capital Advisors Inc. OK increased its position in Editas Medicine by 11.0% during the 4th quarter. Capital Advisors Inc. OK now owns 135,035 shares of the company’s stock valued at $3,072,000 after purchasing an additional 13,334 shares during the period. Vanguard Group Inc increased its position in Editas Medicine by 3.9% during the 3rd quarter. Vanguard Group Inc now owns 3,729,579 shares of the company’s stock valued at $118,675,000 after purchasing an additional 141,609 shares during the period. Finally, Vanguard Group Inc. increased its position in Editas Medicine by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 3,729,579 shares of the company’s stock valued at $118,675,000 after purchasing an additional 141,609 shares during the period. 70.26% of the stock is owned by institutional investors and hedge funds.
In other news, Director Jessica Hopfield bought 10,200 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were bought at an average cost of $23.94 per share, for a total transaction of $244,188.00. Following the acquisition, the director now directly owns 16,900 shares in the company, valued at $404,586. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vickesh Myer sold 3,000 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $24.50, for a total value of $73,500.00. Following the completion of the transaction, the insider now owns 3,000 shares in the company, valued at $73,500. The disclosure for this sale can be found here. Insiders have sold a total of 12,895 shares of company stock worth $282,244 over the last 90 days. Company insiders own 5.20% of the company’s stock.
Editas Medicine (NASDAQ:EDIT) last posted its quarterly earnings results on Thursday, February 28th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.04). The business had revenue of $6.12 million for the quarter, compared to the consensus estimate of $16.30 million. Editas Medicine had a negative return on equity of 46.82% and a negative net margin of 344.28%. As a group, sell-side analysts forecast that Editas Medicine Inc will post -2.68 EPS for the current year.
A number of analysts have weighed in on the stock. BidaskClub raised shares of Editas Medicine from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Zacks Investment Research downgraded shares of Editas Medicine from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Editas Medicine in a research report on Thursday, January 10th. Chardan Capital reissued a “buy” rating and set a $55.00 target price on shares of Editas Medicine in a research report on Tuesday, January 22nd. Finally, Evercore ISI began coverage on Editas Medicine in a report on Thursday, April 11th. They set an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $37.80.
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Editas Medicine Company Profile
Editas Medicine, Inc operates as a clinical stage genome editing company. The company focuses on developing transformative genomic medicines to treat a range of serious diseases. It develops a proprietary genome editing platform based on CRISPR technology to target genetically addressable diseases and therapeutic areas.
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