Editas Medicine, Inc. (NASDAQ:EDIT) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lowered its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 67.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 39,808 shares of the company’s stock after selling 84,033 shares during the quarter. Profund Advisors LLC’s holdings in Editas Medicine were worth $186,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koss Olinger Consulting LLC acquired a new position in shares of Editas Medicine in the second quarter worth about $47,000. Hoylecohen LLC purchased a new position in shares of Editas Medicine during the 2nd quarter valued at approximately $55,000. Spectrum Planning & Advisory Services Inc. acquired a new stake in shares of Editas Medicine during the second quarter worth approximately $57,000. Aries Wealth Management bought a new stake in shares of Editas Medicine in the second quarter worth $65,000. Finally, Headlands Technologies LLC raised its holdings in Editas Medicine by 481.7% in the first quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock valued at $70,000 after acquiring an additional 7,861 shares in the last quarter. 71.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EDIT shares. Bank of America raised shares of Editas Medicine from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $13.00 to $15.00 in a research report on Thursday, August 8th. Barclays cut their price objective on 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $8.00 target price on shares of Editas Medicine in a research report on Thursday, September 19th. Truist Financial dropped their price target 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, Oppenheimer restated a “market perform” rating and set a $12.00 price objective on shares of Editas Medicine in a research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $10.22.

Insider Buying and Selling at Editas Medicine

In other news, EVP Baisong Mei sold 6,619 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 134,413 shares in the company, valued at $700,291.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, EVP Linda Burkly sold 11,886 shares of the company’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 completion of the sale, the executive vice president now owns 73,136 shares of the company’s stock, valued at $396,397.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Baisong Mei sold 6,619 shares of the 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 owns 134,413 shares of the company’s stock, valued at approximately $700,291.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,578 shares of company stock worth $105,997. 1.90% of the stock is owned by company insiders.

Editas Medicine Price Performance

Shares of EDIT opened at $3.48 on Monday. Editas Medicine, Inc. has a 12 month low of $3.37 and a 12 month high of $11.69. The stock has a fifty day moving average price of $4.14 and a 200 day moving average price of $5.25. The company has a market cap of $286.19 million, a P/E ratio of -1.66 and a beta of 1.99.

Editas Medicine (NASDAQ:EDIT) last released 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 firm had revenue of $0.51 million for the quarter, compared to the consensus estimate of $4.78 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The firm’s revenue was down 82.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.56) EPS. As a group, research analysts anticipate that Editas Medicine, Inc. will post -2.97 earnings per share for the current year.

About Editas Medicine

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.