Bank of New York Mellon Corp Raises Stock Holdings in Editas Medicine, Inc. (NASDAQ:EDIT)

Bank of New York Mellon Corp lifted its stake in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 296,154 shares of the company’s stock after acquiring an additional 11,332 shares during the period. Bank of New York Mellon Corp’s holdings in Editas Medicine were worth $1,383,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its position in shares of Editas Medicine by 401.9% in the fourth quarter. Russell Investments Group Ltd. now owns 5,190 shares of the company’s stock valued at $53,000 after buying an additional 4,156 shares during the last quarter. Headlands Technologies LLC lifted its stake in shares of Editas Medicine by 481.7% during the 1st quarter. Headlands Technologies LLC now owns 9,493 shares of the company’s stock worth $70,000 after purchasing an additional 7,861 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Editas Medicine during the first quarter worth $72,000. HB Wealth Management LLC purchased a new stake in shares of Editas Medicine in the first quarter valued at $76,000. Finally, Victory Capital Management Inc. acquired a new position in Editas Medicine in the fourth quarter valued at $111,000. Hedge funds and other institutional investors own 71.90% of the company’s stock.

Editas Medicine Price Performance

NASDAQ:EDIT opened at $3.91 on Friday. The business’s 50-day moving average is $4.38 and its two-hundred day moving average is $5.50. The firm has a market capitalization of $321.55 million, a PE ratio of -1.86 and a beta of 1.99. Editas Medicine, Inc. has a 12 month low of $3.40 and a 12 month high of $11.69.

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 company had revenue of $0.51 million for the quarter, compared to analyst estimates of $4.78 million. Editas Medicine had a negative return on equity of 62.61% and a negative net margin of 288.59%. The business’s revenue was down 82.2% on a year-over-year basis. During the same period last year, the firm posted ($0.56) earnings per share. Equities analysts anticipate that Editas Medicine, Inc. will post -2.97 EPS for the current year.

Insider Transactions at Editas Medicine

In related news, EVP Baisong Mei sold 6,619 shares of the stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $5.21, for a total value 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 $700,291.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Linda Burkly sold 11,886 shares of the business’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 approximately $396,397.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Baisong Mei sold 6,619 shares of the stock in a transaction dated 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 approximately $700,291.73. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,578 shares of company stock valued at $105,997. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on EDIT shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $8.00 price target on shares of Editas Medicine in a research note on Thursday. Bank of America upgraded shares of Editas Medicine from a “neutral” rating to a “buy” rating and boosted their target price for the company from $13.00 to $15.00 in a report on Thursday, August 8th. Barclays dropped their price target 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. Truist Financial decreased their price target on shares of Editas Medicine from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI dropped their price objective on Editas Medicine from $15.00 to $7.00 and set an “in-line” rating for the company in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Editas Medicine presently has an average rating of “Hold” and a consensus target price of $10.90.

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.