Editas Medicine, Inc. (NASDAQ:EDIT – Get Free Report) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 18,960,000 shares, a growth of 5.3% from the August 31st total of 18,010,000 shares. Based on an average trading volume of 1,800,000 shares, the short-interest ratio is currently 10.5 days.
Editas Medicine Stock Performance
Shares of EDIT stock traded down $0.14 during trading on Tuesday, hitting $3.27. 1,769,073 shares of the company were exchanged, compared to its average volume of 1,904,289. The business’s 50-day simple moving average is $4.11 and its 200 day simple moving average is $5.19. Editas Medicine has a twelve month low of $3.22 and a twelve month high of $11.69. The firm has a market capitalization of $268.92 million, a price-to-earnings ratio of -1.55 and a beta of 1.99.
Editas Medicine (NASDAQ:EDIT – Get Free Report) last posted 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). Editas Medicine had a negative net margin of 288.59% and a negative return on equity of 62.61%. The company had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $4.78 million. During the same quarter in the prior year, the firm earned ($0.56) earnings per share. The company’s revenue was down 82.2% on a year-over-year basis. On average, equities analysts forecast that Editas Medicine will post -2.97 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on EDIT
Insider Activity
In other Editas Medicine news, EVP Linda Burkly sold 11,886 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $5.42, for a total transaction of $64,422.12. Following the completion of the transaction, the executive vice president now directly owns 73,136 shares of the company’s stock, valued at approximately $396,397.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other 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 transaction of $64,422.12. Following the completion of the transaction, the executive vice president now owns 73,136 shares in the company, valued at approximately $396,397.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 sale, the executive vice president now owns 134,413 shares in the company, valued at $700,291.73. The disclosure for this sale can be found here. Insiders sold 20,578 shares of company stock worth $105,997 over the last three months. Corporate insiders own 1.90% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of EDIT. The Manufacturers Life Insurance Company lifted its holdings in shares of Editas Medicine by 10.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 33,599 shares of the company’s stock valued at $157,000 after buying an additional 3,089 shares during the last quarter. Millennium Management LLC grew its position in Editas Medicine by 10.0% in the second quarter. Millennium Management LLC now owns 2,459,629 shares of the company’s stock worth $11,486,000 after acquiring an additional 223,012 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Editas Medicine by 117.2% during the 2nd quarter. AQR Capital Management LLC now owns 45,890 shares of the company’s stock worth $214,000 after purchasing an additional 24,758 shares during the last quarter. Caxton Associates LP bought a new position in shares of Editas Medicine during the 2nd quarter valued at $600,000. Finally, Integral Health Asset Management LLC lifted 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 purchasing an additional 225,000 shares during the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.
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.
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