Seven Eight Capital LP acquired a new stake in Editas Medicine, Inc. (NASDAQ:EDIT – Get Rating) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 22,963 shares of the company’s stock, valued at approximately $281,000.
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A number of other hedge funds and other institutional investors also recently made changes to their positions in EDIT. Bank of New York Mellon Corp lifted its stake in shares of Editas Medicine by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 288,878 shares of the company’s stock valued at $5,494,000 after purchasing an additional 1,060 shares during the period. US Bancorp DE increased its position in Editas Medicine by 13.6% in the 1st quarter. US Bancorp DE now owns 12,699 shares of the company’s stock valued at $243,000 after buying an additional 1,520 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Editas Medicine by 88.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 41,811 shares of the company’s stock valued at $795,000 after buying an additional 19,594 shares in the last quarter. Bank of Montreal Can bought a new stake in Editas Medicine in the 1st quarter valued at about $1,011,000. Finally, MetLife Investment Management LLC increased its position in Editas Medicine by 57.4% in the 1st quarter. MetLife Investment Management LLC now owns 37,148 shares of the company’s stock valued at $707,000 after buying an additional 13,546 shares in the last quarter. 69.67% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently commented on EDIT. Oppenheimer lowered Editas Medicine from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $28.00 to $12.00 in a research report on Thursday, November 17th. SVB Leerink boosted their target price on Editas Medicine from $6.00 to $7.00 and gave the company a “market perform” rating in a research report on Monday, January 23rd. Citigroup started coverage on Editas Medicine in a research report on Tuesday, December 13th. They issued a “neutral” rating and a $11.00 target price for the company. Chardan Capital decreased their price objective on Editas Medicine from $43.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, November 17th. Finally, Evercore ISI decreased their price objective on Editas Medicine to $8.00 in a report on Monday, November 21st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Editas Medicine has a consensus rating of “Hold” and an average price target of $16.73.
Insider Activity at Editas Medicine
In related news, EVP Mark S. Shearman sold 2,790 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $26,979.30. Following the transaction, the executive vice president now owns 65,559 shares in the company, valued at $633,955.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Mark S. Shearman sold 2,790 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $9.67, for a total value of $26,979.30. Following the transaction, the executive vice president now owns 65,559 shares in the company, valued at $633,955.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michelle Robertson sold 4,287 shares of the company’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $9.67, for a total value of $41,455.29. Following the completion of the transaction, the chief financial officer now owns 76,243 shares in the company, valued at approximately $737,269.81. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,175 shares of company stock worth $86,572. Insiders own 1.30% of the company’s stock.
Editas Medicine Stock Up 2.3 %
Shares of NASDAQ EDIT opened at $10.36 on Thursday. Editas Medicine, Inc. has a twelve month low of $7.70 and a twelve month high of $21.59. The stock’s 50 day moving average price is $9.32 and its 200-day moving average price is $12.03. The company has a market capitalization of $712.38 million, a PE ratio of -3.52 and a beta of 1.87.
Editas Medicine Company Profile
Editas Medicine, Inc engages in the development and commercialization of genome editing technology. Its technology includes clustered, regularly interspaced short palindromic repeats (CRISPR), and CRISPR associated protein 9 (Cas9). The company was founded by Feng Zhang, Jennifer A. Doudna, George McDonald Church, J.
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