Insider Selling: Editas Medicine, Inc. (EDIT) CFO Sells 5,000 Shares of Stock
Editas Medicine, Inc. (NASDAQ:EDIT) CFO Andrew A. F. Hack sold 5,000 shares of Editas Medicine stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $25.35, for a total value of $126,750.00. Following the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $126,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Editas Medicine, Inc. (NASDAQ EDIT) traded up $0.41 during mid-day trading on Tuesday, hitting $25.46. The company’s stock had a trading volume of 572,800 shares, compared to its average volume of 914,436. Editas Medicine, Inc. has a one year low of $13.12 and a one year high of $29.20. The company has a current ratio of 10.12, a quick ratio of 10.12 and a debt-to-equity ratio of 0.19.
Editas Medicine (NASDAQ:EDIT) last announced its earnings results on Tuesday, November 7th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.60) by ($0.04). Editas Medicine had a negative net margin of 1,127.03% and a negative return on equity of 70.19%. The company had revenue of $6.28 million during the quarter, compared to analysts’ expectations of $2.66 million. During the same quarter last year, the business posted ($0.59) earnings per share. The company’s revenue for the quarter was up 553.0% compared to the same quarter last year. equities analysts expect that Editas Medicine, Inc. will post -2.92 EPS for the current year.
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Several research analysts have commented on EDIT shares. ValuEngine lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Zacks Investment Research lowered Editas Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cann reaffirmed a “hold” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. J P Morgan Chase & Co set a $27.00 price target on Editas Medicine and gave the stock a “hold” rating in a research report on Wednesday, August 9th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $28.00 target price (up from $27.00) on shares of Editas Medicine in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.73.
About Editas Medicine
Editas Medicine, Inc is a genome editing company. It is engaged in treating patients with genetically defined diseases by correcting their disease-causing genes. It operates through developing and commercializing genome editing technology segment. It is developing a genome editing platform based on clustered, regularly interspaced short palindromic repeats (CRISPR) technology.
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