Raymond James Financial Services Advisors Inc. Increases Stock Position in Editas Medicine, Inc. (NASDAQ:EDIT)

Raymond James Financial Services Advisors Inc. increased its position in Editas Medicine, Inc. (NASDAQ:EDIT) by 29.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,170 shares of the company’s stock after purchasing an additional 13,574 shares during the quarter. Raymond James Financial Services Advisors Inc. owned 0.07% of Editas Medicine worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Editas Medicine by 0.4% in the first 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. MML Investors Services LLC boosted its stake in shares of Editas Medicine by 6.2% in the first quarter. MML Investors Services LLC now owns 18,465 shares of the company’s stock valued at $134,000 after purchasing an additional 1,079 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Editas Medicine by 0.5% in the second quarter. Wells Fargo & Company MN now owns 216,318 shares of the company’s stock valued at $1,780,000 after purchasing an additional 1,182 shares during the period. Amalgamated Bank raised its holdings in Editas Medicine by 18.0% in the third quarter. Amalgamated Bank now owns 8,023 shares of the company’s stock valued at $63,000 after acquiring an additional 1,226 shares in the last quarter. Finally, Covestor Ltd raised its holdings in Editas Medicine by 9,693.3% in the first quarter. Covestor Ltd now owns 1,469 shares of the company’s stock valued at $28,000 after acquiring an additional 1,454 shares in the last quarter. 71.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on EDIT. JPMorgan Chase & Co. upped their price target on shares of Editas Medicine from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Tuesday, February 27th. Citigroup upped their price target on shares of Editas Medicine from $11.00 to $16.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Barclays upped their price target on shares of Editas Medicine from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Finally, StockNews.com raised shares of Editas Medicine from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Editas Medicine Stock Performance

Shares of NASDAQ:EDIT opened at $5.61 on Thursday. The stock has a market capitalization of $458.95 million, a price-to-earnings ratio of -2.74 and a beta of 2.01. Editas Medicine, Inc. has a 1-year low of $5.60 and a 1-year high of $11.91. The company’s fifty day moving average is $7.88 and its two-hundred day moving average is $8.42.

Editas Medicine (NASDAQ:EDIT) last issued its earnings results on Wednesday, February 28th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.29. The company had revenue of $60.00 million for the quarter, compared to analysts’ expectations of $4.84 million. Editas Medicine had a negative net margin of 196.12% and a negative return on equity of 42.95%. The firm’s revenue was up 817.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.88) earnings per share. Sell-side analysts expect that Editas Medicine, Inc. will post -2.61 EPS for the current fiscal year.

Insider Transactions at Editas Medicine

In other news, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $9.42, for a total transaction of $733,102.08. Following the completion of the transaction, the chief executive officer now owns 327,470 shares in the company, valued at $3,084,767.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Baisong Mei sold 20,327 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $9.42, for a total transaction of $191,480.34. Following the completion of the transaction, the senior vice president now owns 141,543 shares in the company, valued at $1,333,335.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gilmore Neil O’neill sold 77,824 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $9.42, for a total transaction of $733,102.08. Following the transaction, the chief executive officer now owns 327,470 shares of the company’s stock, valued at approximately $3,084,767.40. The disclosure for this sale can be found here. Insiders own 2.20% 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.