ARK Investment Management LLC Has $78.17 Million Position in Editas Medicine Inc (EDIT)

ARK Investment Management LLC increased its holdings in Editas Medicine Inc (NASDAQ:EDIT) by 34.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,181,572 shares of the company’s stock after purchasing an additional 561,364 shares during the quarter. Editas Medicine makes up 2.9% of ARK Investment Management LLC’s investment portfolio, making the stock its 11th biggest holding. ARK Investment Management LLC owned approximately 4.62% of Editas Medicine worth $78,166,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rothschild Investment Corp IL boosted its position in Editas Medicine by 22.2% during the second quarter. Rothschild Investment Corp IL now owns 9,350 shares of the company’s stock valued at $335,000 after acquiring an additional 1,700 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Editas Medicine by 4.1% during the first quarter. California State Teachers Retirement System now owns 56,489 shares of the company’s stock valued at $1,873,000 after purchasing an additional 2,201 shares during the period. Vivaldi Capital Management LLC raised its holdings in shares of Editas Medicine by 39.6% during the first quarter. Vivaldi Capital Management LLC now owns 10,570 shares of the company’s stock valued at $350,000 after purchasing an additional 3,000 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Editas Medicine by 7.0% during the first quarter. New York State Common Retirement Fund now owns 45,593 shares of the company’s stock valued at $1,511,000 after purchasing an additional 3,000 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Editas Medicine by 7.5% during the fourth quarter. Wells Fargo & Company MN now owns 48,791 shares of the company’s stock valued at $1,500,000 after purchasing an additional 3,415 shares during the period. 65.77% of the stock is currently owned by institutional investors.

EDIT opened at $29.64 on Monday. The company has a current ratio of 14.50, a quick ratio of 11.71 and a debt-to-equity ratio of 0.14. Editas Medicine Inc has a fifty-two week low of $17.35 and a fifty-two week high of $45.02. The stock has a market capitalization of $1.37 billion, a P/E ratio of -9.95 and a beta of 3.32.

Editas Medicine (NASDAQ:EDIT) last posted its earnings results on Monday, August 6th. The company reported ($0.82) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.15). Editas Medicine had a negative return on equity of 61.27% and a negative net margin of 623.35%. The business had revenue of $7.37 million during the quarter, compared to analyst estimates of $7.01 million. During the same quarter in the prior year, the company earned ($0.65) EPS. The company’s revenue was up 137.7% on a year-over-year basis. equities analysts forecast that Editas Medicine Inc will post -3 EPS for the current fiscal year.

In related news, insider Katrine Bosley sold 8,333 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $29.55, for a total value of $246,240.15. Following the sale, the insider now owns 1,279,066 shares in the company, valued at approximately $37,796,400.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vickesh Myer sold 14,000 shares of the company’s stock in a transaction dated Tuesday, June 19th. The stock was sold at an average price of $38.26, for a total transaction of $535,640.00. Following the completion of the sale, the insider now owns 4,300 shares in the company, valued at approximately $164,518. The disclosure for this sale can be found here. Insiders sold a total of 82,999 shares of company stock worth $2,992,109 in the last 90 days. 5.20% of the stock is currently owned by company insiders.

Several equities analysts have recently weighed in on the stock. BidaskClub upgraded shares of Editas Medicine from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 21st. ValuEngine upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Editas Medicine from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Tuesday, May 15th. Chardan Capital dropped their price objective on shares of Editas Medicine from $72.50 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, May 15th. Finally, JPMorgan Chase & Co. set a $36.00 price objective on shares of Editas Medicine and gave the company a “hold” rating in a report on Monday, August 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Editas Medicine has an average rating of “Hold” and an average price target of $47.43.

About Editas Medicine

Editas Medicine, Inc operates as a genome editing company. It focuses on treating patients with genetically defined diseases by correcting their disease causing genes. The company develops a proprietary genome editing platform based on CRISPR technology to target genetically defined diseases with an initial focus on debilitating illnesses where there are no approved treatments.

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Institutional Ownership by Quarter for Editas Medicine (NASDAQ:EDIT)

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