Mirae Asset Global Investments Co. Ltd. Sells 177,556 Shares of Editas Medicine, Inc. (NASDAQ:EDIT)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in shares of Editas Medicine, Inc. (NASDAQ:EDIT) by 47.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 197,971 shares of the company’s stock after selling 177,556 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.24% of Editas Medicine worth $2,005,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Editas Medicine by 4.5% during the third quarter. Vanguard Group Inc. now owns 8,536,208 shares of the company’s stock valued at $66,582,000 after acquiring an additional 370,734 shares during the period. State Street Corp lifted its stake in shares of Editas Medicine by 43.8% during the second quarter. State Street Corp now owns 7,879,890 shares of the company’s stock valued at $93,219,000 after acquiring an additional 2,399,852 shares during the period. BlackRock Inc. lifted its stake in shares of Editas Medicine by 2.4% during the second quarter. BlackRock Inc. now owns 7,595,696 shares of the company’s stock valued at $62,513,000 after acquiring an additional 177,334 shares during the period. Woodline Partners LP lifted its stake in shares of Editas Medicine by 3.9% during the second quarter. Woodline Partners LP now owns 2,749,305 shares of the company’s stock valued at $22,627,000 after acquiring an additional 102,685 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Editas Medicine by 13.8% during the fourth quarter. Millennium Management LLC now owns 2,142,468 shares of the company’s stock valued at $19,004,000 after acquiring an additional 259,598 shares during the period. Institutional investors own 71.90% of the company’s stock.

Editas Medicine Price Performance

Shares of Editas Medicine stock opened at $5.49 on Friday. Editas Medicine, Inc. has a 1 year low of $5.28 and a 1 year high of $11.91. The business has a 50-day moving average of $7.81 and a two-hundred day moving average of $8.38. The company has a market capitalization of $451.47 million, a P/E ratio of -2.68 and a beta of 2.01.

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

Analysts Set New Price Targets

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

Insiders Place Their Bets

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

Editas Medicine Company 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.