Integral Health Asset Management LLC Acquires 225,000 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Integral Health Asset Management LLC lifted its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 50.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 675,000 shares of the company’s stock after acquiring an additional 225,000 shares during the period. Integral Health Asset Management LLC owned approximately 0.82% of Editas Medicine worth $3,152,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Editas Medicine by 148.1% in the second quarter. Hsbc Holdings PLC now owns 104,794 shares of the company’s stock valued at $488,000 after buying an additional 62,561 shares in the last quarter. American Century Companies Inc. boosted its position in Editas Medicine by 13.6% in the second quarter. American Century Companies Inc. now owns 126,240 shares of the company’s stock valued at $590,000 after buying an additional 15,088 shares in the last quarter. Koss Olinger Consulting LLC acquired a new position in Editas Medicine in the second quarter valued at about $47,000. Rhumbline Advisers boosted its position in Editas Medicine by 2.9% in the second quarter. Rhumbline Advisers now owns 137,986 shares of the company’s stock valued at $644,000 after buying an additional 3,862 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in Editas Medicine by 10.5% in the second quarter. International Assets Investment Management LLC now owns 31,457 shares of the company’s stock valued at $147,000 after buying an additional 3,000 shares in the last quarter. 71.90% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Linda Burkly sold 11,886 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 73,136 shares in the company, valued at $396,397.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Baisong Mei sold 6,619 shares of the company’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 value of $34,484.99. Following the completion of the transaction, the executive vice president now owns 134,413 shares in the company, valued at $700,291.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now owns 73,136 shares of the company’s stock, valued at approximately $396,397.12. The disclosure for this sale can be found here. Insiders sold 20,578 shares of company stock worth $105,997 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $3.77 on Monday. Editas Medicine, Inc. has a 52 week low of $3.40 and a 52 week high of $11.69. The company has a market capitalization of $310.04 million, a PE ratio of -1.80 and a beta of 1.99. The company has a 50 day moving average price of $4.34 and a two-hundred day moving average price of $5.41.

Editas Medicine (NASDAQ:EDIT) last issued its 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 firm had revenue of $0.51 million during the quarter, compared to the consensus estimate of $4.78 million. During the same period in the previous year, the company posted ($0.56) EPS. The firm’s revenue for the quarter was down 82.2% on a year-over-year basis. On average, sell-side analysts forecast that Editas Medicine, Inc. will post -2.97 earnings per share for the current 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.