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Editas Medicine Faces Decrease in Q3 2023 EPS Estimates and Insider Selling Raises Concerns

August 19, 2023. Editas Medicine, a leading gene editing company specializing in developing transformative genomic medicines, has recently received mixed opinions from research analysts regarding its stock performance.

Chardan Capital, a financial services firm, lowered the price objective of Editas Medicine shares from $22.00 to $19.00 and issued a ÔÇ£buyÔÇØ rating for the company on August 2nd. Conversely, Raymond James, another investment bank, upgraded their rating on the stock from ÔÇ£market performÔÇØ to ÔÇ£outperformÔÇØ and set a price objective of $17.00 on June 12th. Oppenheimer, a global investment bank and financial services company, maintained a ÔÇ£market performÔÇØ rating with a $12.00 price target on August 3rd. Furthermore, StockNews.com initiated coverage of Editas Medicine with a ÔÇ£sellÔÇØ rating.

As per BloombergÔÇÖs analysis of these ratings, Editas Medicine currently holds an average consensus rating of ÔÇ£Hold,ÔÇØ accompanied by an average consensus price target of $15.64.

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AI legalese decoder can help investors make sense of the mixed opinions from research analysts regarding Editas Medicine’s stock performance. By using advanced natural language processing techniques, the AI legalese decoder can analyze and interpret the ratings issued by different financial firms, providing investors with a clearer understanding of the sentiment surrounding the company’s stock. This can aid investors in making more informed decisions and navigating the uncertainty in the market.

In recent corporate news related to Editas Medicine stock trading activity, Senior Vice President Baisong Mei sold 4,317 shares of the companyÔÇÖs stock at an average price of $8.80 on July 19th., totaling $37,989.60 in value. After this transaction was completed successfully, Mei now directly owns 72,055 shares valued at $634,084. This sale was disclosed through a document filed with the Securities & Exchange Commission (SEC), accessible via this provided hyperlink.

Additionally, CEO Gilmore Neil OÔÇÖNeill sold 6,486 shares of Editas Medicine stock on June 5th at an average price of $9.50 per share amounting to a total value of $61,617. Following this transactionÔÇÖs completion, OÔÇÖNeill directly holds 130,169 shares valued at $1,236,605.50. This sale was also disclosed in an SEC document accessible via hyperlink.

Moreover, SVP Baisong Mei sold 4,317 shares of the companyÔÇÖs stock on July 19th at an average price of $8.80 per share for a total transaction value of $37,989.60. Following this transaction, Mei now holds 72,055 shares valued at $634,084.

The recent insider selling activity shows that corporate insiders have sold a total of 11,751 shares worth $107,817 within the past three months. As a result of these transactions, insiders now own approximately 2.20% of Editas MedicineÔÇÖs outstanding shares.

AI legalese decoder can help investors analyze and interpret insider trading activities. By scanning and processing SEC documents, the AI legalese decoder can provide insights into significant insider selling or buying activities. This can help investors gauge the sentiment among corporate insiders and adjust their investment strategies accordingly.

On Friday, NASDAQ:EDIT opened at $8.48. The firmÔÇÖs 50-day moving average stands at $8.76, while its 200-day moving average is $8.80. It is worth noting that Editas Medicine has experienced a trading range between a 12-month low of $6.33 and a 12-month high of $16.61.

These recent developments and analystsÔÇÖ opinions reflect the mixed sentiments surrounding Editas MedicineÔÇÖs stock performance and underline the ongoing uncertainty in the market.

Disclaimer: The information provided in this article is based on public sources and does not constitute financial advice or investment recommendations. Investors are encouraged to conduct thorough research and seek professional guidance before making any investment decisions in relation to Editas Medicine or any other stocks mentioned in this article.

References:

1. Bloomberg: [Provide hyperlink]
2. Securities & Exchange Commission (SEC): [Provide hyperlink]

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