Susquehanna Portfolio Strategies LLC Sells 71,701 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Susquehanna Portfolio Strategies LLC lowered its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 39.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,972 shares of the company’s stock after selling 71,701 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Editas Medicine were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EDIT. Dimensional Fund Advisors LP boosted its position in shares of Editas Medicine by 40.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,392,396 shares of the company’s stock worth $24,236,000 after purchasing an additional 690,366 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Editas Medicine during the fourth quarter valued at $520,000. Seven Eight Capital LP purchased a new position in shares of Editas Medicine in the 4th quarter worth about $1,482,000. Virtu Financial LLC bought a new position in Editas Medicine in the 4th quarter worth about $748,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Editas Medicine during the 1st quarter valued at about $1,097,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Insider Activity

In related news, EVP Baisong Mei sold 6,619 shares of Editas Medicine stock in a transaction on Friday, July 19th. The stock was sold at an average price of $5.21, for a total transaction of $34,484.99. Following the transaction, the executive vice president now directly owns 134,413 shares in the company, valued at $700,291.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Editas Medicine news, EVP Baisong Mei sold 6,619 shares of the firm’s stock in a transaction that occurred on 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 owns 134,413 shares in the company, valued at approximately $700,291.73. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Linda Burkly sold 11,886 shares of Editas Medicine stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 73,136 shares in the company, valued at approximately $396,397.12. The disclosure for this sale can be found here. Insiders sold a total of 20,578 shares of company stock valued at $105,997 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $3.48 on Friday. The stock’s 50-day simple moving average is $4.14 and its two-hundred day simple moving average is $5.27. The stock has a market capitalization of $286.19 million, a price-to-earnings ratio of -1.66 and a beta of 1.99. Editas Medicine, Inc. has a 52-week low of $3.37 and a 52-week high of $11.69.

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 the consensus estimate 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 business had revenue of $0.51 million for the quarter, compared to the consensus estimate of $4.78 million. During the same quarter last year, the firm posted ($0.56) earnings per share. The business’s quarterly revenue was down 82.2% compared to the same quarter last year. As a group, equities analysts forecast that Editas Medicine, Inc. will post -2.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on EDIT shares. Oppenheimer reaffirmed a “market perform” rating and issued a $12.00 target price on shares of Editas Medicine in a report on Tuesday, June 18th. Bank of America raised Editas Medicine from a “neutral” rating to a “buy” rating and upped their price objective for the company from $13.00 to $15.00 in a research report on Thursday, August 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $8.00 price target on shares of Editas Medicine in a research note on Thursday, September 19th. Truist Financial dropped their price objective on Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, Barclays lowered their target price on shares of Editas Medicine from $9.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.22.

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.