Editas Medicine, (NASDAQ:EDIT) Coverage Initiated at SunTrust Banks,

James Marshall
August 13, 2017

"(NASDAQ:EDIT) Rating Increased to Buy at Zacks Investment Research" was posted by BBNS and is the property of of BBNS.

The stock of Editas Medicine Incorporated (NASDAQ:EDIT) registered an increase of 9.47% in short interest. However a year ago for the same quarter the company has reported $-0.13 EPS. Lastly, Driehaus Capital Management added additional shares of Editas Medicine by 169.8% in the Q1.

Looking at insider trading can give great insight into how Editas Medicine, Inc.

Editas Medicine Inc (NASDAQ:EDIT) has declined 45.48% since August 10, 2016 and is downtrending. The company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($0.64) by $0.01.

"Editas' loss per share was $0.65, compared to our estimated loss of $1.01". During the same period in the previous year, the firm earned ($0.54) earnings per share. Company has far performed well this year, with the share price up 21.50% since January.

EDIT has been the subject of a number of other reports. Zacks Investment Research raised shares of Editas Medicine from a "hold" rating to a "buy" rating and set a $19.00 target price on the stock in a research note on Wednesday, July 12th. Finally, SunTrust Banks, Inc. assumed coverage on Editas Medicine in a research note on Thursday, July 13th. Earnings surprises can have a huge impact on a company's stock price. Five research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Where the relative strength index (RSI) is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine excess buying & selling conditions of an asset, it is one of the most popular technical indicators, computed on the basis of the speed and direction of a stock's price movement.

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On 6/2/2017 Gerald Frank Cox, Insider, bought 4,000 with an average share price of $14.15 per share and the total transaction amounting to $56,600.00. The shares were bought at an average price of $14.07 per share, for a total transaction of $492,450.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

In related news, Director Kevin Bitterman sold 1,000,000 shares of the company's stock in a transaction dated Monday, May 22nd. The stock exchanged hands 1.88 Million shares versus average trading capacity of 1.16 Million shares. The disclosure for this purchase can be found here. Finally, ProShare Advisors LLC boosted its position in shares of Editas Medicine by 18.9% in the second quarter. Teachers Advisors, LLC now owns 61,369 shares worth $1,030,000. Norges Bank purchased a new position in Editas Medicine during the fourth quarter worth $1,479,000. ProShare Advisors LLC now owns 24,211 shares of the company's stock worth $406,000 after buying an additional 3,857 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in Editas Medicine during the fourth quarter worth about $284,000.

About 1.13 million shares traded or 71.40% up from the average. Hershey Trust Co. purchased a new stake in shares of Editas Medicine during the second quarter worth approximately $244,000. Legal & General Group Plc now owns 8,654 shares of the company's stock valued at $145,000 after buying an additional 6,535 shares during the period.

Editas Medicine (NASDAQ EDIT) opened at 17.14 on Friday. The stock had a trading volume of 501,864 shares. Over the same time span, the stock marked US$29.2 as its best level and the lowest price reached was US$12.43. The firm's market capitalization is $803.18 million. The share price has moved forward from its 20 days moving average, trading at a distance of 7.7% and stays 9.49% away from its 50 days moving average. The short interest to Editas Medicine Incorporated's float is 30.64%.

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