Caxton Associates LP Takes $600,000 Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Caxton Associates LP bought a new stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 128,510 shares of the company’s stock, valued at approximately $600,000.

A number of other institutional investors also recently made changes to their positions in the stock. Seven Eight Capital LP bought a new stake in shares of Editas Medicine during the 4th quarter worth $1,482,000. Los Angeles Capital Management LLC acquired a new position in shares of Editas Medicine during the 1st quarter worth $1,097,000. Integral Health Asset Management LLC raised its stake in shares of Editas Medicine by 50.0% in the 2nd quarter. Integral Health Asset Management LLC now owns 675,000 shares of the company’s stock valued at $3,152,000 after acquiring an additional 225,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Editas Medicine by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 8,555,597 shares of the company’s stock valued at $63,483,000 after buying an additional 93,740 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Editas Medicine by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 49,704 shares of the company’s stock valued at $369,000 after purchasing 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 other Editas Medicine news, EVP Baisong Mei sold 6,619 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $5.21, for a total transaction of $34,484.99. Following the sale, the executive vice president now directly owns 134,413 shares of the company’s stock, valued at approximately $700,291.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Editas Medicine news, EVP Linda Burkly sold 11,886 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $5.42, for a total transaction of $64,422.12. Following the sale, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at $396,397.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Baisong Mei sold 6,619 shares of Editas Medicine stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $5.21, for a total transaction of $34,484.99. Following the completion of the transaction, the executive vice president now directly owns 134,413 shares of the company’s stock, valued at approximately $700,291.73. The disclosure for this sale can be found here. Insiders have sold a total of 20,578 shares of company stock valued at $105,997 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Oppenheimer reaffirmed a “market perform” rating and set a $12.00 target price on shares of Editas Medicine in a research report on Tuesday, June 18th. Evercore ISI dropped their price objective on shares of Editas Medicine from $15.00 to $7.00 and set an “in-line” rating for the company in a report on Thursday, May 30th. Barclays dropped 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 note on Thursday, August 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $8.00 price target on shares of Editas Medicine in a research note on Thursday, September 19th. Finally, Truist Financial dropped their price objective on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.90.

Editas Medicine Trading Up 2.9 %

EDIT stock opened at $3.49 on Friday. The stock has a 50-day moving average price of $4.17 and a two-hundred day moving average price of $5.31. Editas Medicine, Inc. has a 1 year low of $3.37 and a 1 year high of $11.69. The stock has a market cap of $287.01 million, a PE ratio of -1.66 and a beta of 1.99.

Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.12). Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The firm had revenue of $0.51 million during the quarter, compared to analyst estimates of $4.78 million. During the same period in the prior year, the business posted ($0.56) EPS. The firm’s quarterly revenue was down 82.2% compared to the same quarter last year. On average, analysts forecast that Editas Medicine, Inc. will post -2.97 earnings per share for the current fiscal year.

Editas Medicine 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.