Editas Medicine, Inc. (NASDAQ:EDIT) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 10.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 33,599 shares of the company’s stock after buying an additional 3,089 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Editas Medicine were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Millennium Management LLC grew its stake in 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 purchasing an additional 223,012 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Editas Medicine in the first quarter valued at approximately $1,097,000. Integral Health Asset Management LLC increased its holdings in 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 during the period. Vanguard Group Inc. lifted its stake in Editas Medicine by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after acquiring an additional 93,740 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted 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 valued at $369,000 after acquiring an additional 7,174 shares during the last quarter. 71.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Editas Medicine

In related news, EVP Linda Burkly sold 11,886 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $5.42, for a total value of $64,422.12. Following the transaction, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at approximately $396,397.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 13,959 shares of company stock valued at $71,512 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Editas Medicine Price Performance

Editas Medicine stock opened at $3.36 on Friday. The stock has a market capitalization of $276.32 million, a PE ratio of -1.60 and a beta of 1.99. The business has a 50 day simple moving average of $3.61 and a 200-day simple moving average of $4.79. Editas Medicine, Inc. has a 12 month low of $2.91 and a 12 month high of $11.69.

Editas Medicine (NASDAQ:EDIT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.82) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.12). The company had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $4.78 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. Editas Medicine’s revenue was down 82.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.56) EPS. On average, equities research analysts anticipate that Editas Medicine, Inc. will post -2.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.