Editas Medicine Inc (EDIT) Short Interest Down 19.4% in November

Editas Medicine Inc (NASDAQ:EDIT) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 5,303,839 shares, a decrease of 19.4% from the November 15th total of 6,579,382 shares. Based on an average daily volume of 1,090,605 shares, the days-to-cover ratio is presently 4.9 days. Approximately 17.2% of the shares of the company are short sold.

In related news, insider Katrine Bosley sold 14,995 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $34.15, for a total value of $512,079.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew A. F. Hack sold 5,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at $126,750. The disclosure for this sale can be found here. Insiders have sold 61,310 shares of company stock valued at $1,689,449 over the last ninety days. Corporate insiders own 19.40% of the company’s stock.

Large investors have recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of Editas Medicine by 305.4% in the second quarter. State Street Corp now owns 537,640 shares of the company’s stock valued at $9,022,000 after purchasing an additional 405,022 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of Editas Medicine in the third quarter valued at $7,497,000. Ark Investment Management LLC lifted its holdings in shares of Editas Medicine by 121.9% in the second quarter. Ark Investment Management LLC now owns 510,187 shares of the company’s stock valued at $8,561,000 after purchasing an additional 280,265 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Editas Medicine by 245.9% in the second quarter. Northern Trust Corp now owns 373,149 shares of the company’s stock valued at $6,261,000 after purchasing an additional 265,273 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Editas Medicine by 12.5% in the second quarter. Vanguard Group Inc. now owns 2,177,146 shares of the company’s stock valued at $36,533,000 after purchasing an additional 241,973 shares in the last quarter. Institutional investors own 65.70% of the company’s stock.

A number of equities analysts recently issued reports on EDIT shares. ValuEngine raised Editas Medicine from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Morgan Stanley reissued an “equal weight” rating and issued a $28.00 price objective (up from $27.00) on shares of Editas Medicine in a report on Friday, October 6th. Zacks Investment Research downgraded Editas Medicine from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Cowen restated a “buy” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Finally, Cann restated a “hold” rating on shares of Editas Medicine in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $26.73.

Shares of Editas Medicine (NASDAQ:EDIT) traded up $0.73 during trading hours on Thursday, hitting $32.35. The stock had a trading volume of 1,260,000 shares, compared to its average volume of 1,520,000. Editas Medicine has a one year low of $13.12 and a one year high of $36.00. The firm has a market cap of $1,430.00 and a P/E ratio of -9.98. The company has a debt-to-equity ratio of 0.19, a current ratio of 10.12 and a quick ratio of 10.12.

Editas Medicine (NASDAQ:EDIT) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.66 million. During the same quarter last year, the company posted ($0.59) EPS. Editas Medicine’s revenue was up 553.0% on a year-over-year basis. research analysts expect that Editas Medicine will post -2.92 earnings per share for the current fiscal year.

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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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