Selling Boundary Nears To: Editas Medicine (NASDAQ:EDIT), McDonald’s (NYSE:MCD), Penumbra (NYSE:PEN)

Editas Medicine, Inc. (NASDAQ:EDIT) fells down to knees -10.48% to close at $22.30 as 6.6 Million shares changed hands in regular trading session. The firm is going down from its 52 week high price of -48.74%. Editas Medicine, Inc. (EDIT) reported that pricing of an underwritten offering of 4,000,000 shares of its common stock at a price to the public of $22.50 per share. The gross proceeds to Editas Medicine from this offering are expected to be approximately $90 million, before deducting underwriting discounts and commissions and other estimated offering expenses. Editas Medicine has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock on the same terms and conditions.

Editas Medicine intends to use the net proceeds of the offering to fund preclinical studies and clinical trials for its LCA10 program and its other programs to treat genetic and infectious diseases of the eye, preclinical studies of its programs to treat non-malignant hematologic diseases, preclinical studies in its collaboration with Juno Therapeutics, preclinical studies of other research programs, continued expansion of its platform technology, and for working capital and other general corporate purposes.

Can Editas Medicine, Inc. make its way to investors watch list? Find Inside Facts Here

Shares of McDonald’s Corporation (NYSE:MCD) has price volatility of 0.78% in last 5 days trading session, as shares of firm closed at $128.64 by are knocking up of 0.52% in last session. Shares price moving up from its 20 days moving average with 0.77% and isolated positively from 50 days moving average with 3.62%. McDonald’s (MCD) is starting to use fresh meat in an effort to better compete with Wendy’s.The Oak Brook, Illinois-based fast food giant is replacing frozen beef patties in its Quarter Pounder burgers with fresh patties at 328 restaurants in North Texas, according to Business Insider, which cited Instinet analyst Mark Kalinowksi.

The move follows tests in 75 locations in Oklahoma and 14 in the Dallas-Fort Worth region.”This collection of McDonald’s restaurants… appears to mark the largest expansion to date of McDonald’s U.S. test of never-frozen beef,” Kalinowski wrote in a note to clients. “We view this latest expansion of never-frozen beef for quarter-pound beef patties as another signal as to the direction McDonald’s US is likely to head — more test markets/restaurants are likely to introduce never-frozen beef in coming months.”

Watch out for the force behind McDonald’s Corporation bullish run in this report? Find Out Here

Penumbra, Inc. (NYSE:PEN) rose 6.32% to finish at $82.45 in following trading session. Penumbra, Inc. (PEN) reported that pricing of an underwritten public offering of 1,300,000 shares of its common stock at a price to the public of $76.00 per share. All of the shares of common stock to be sold in the offering will be offered by Penumbra. The offering is slated to close on March 22, 2017, subject to customary closing conditions. The underwriters for the offering will also have a 30-day option to purchase up to an additional 195,000 shares of Penumbra’s common stock at the public offering price, less underwriting discounts and commissions. The corporation has return on equity of 5.90% and while returns on assets was calculated 5.10% with 29.23% year to date performance.

How Penumbra, Inc. dominated Wall Street through eye-catching trend? Find Out Here

 

Steve Hart

Steve Hart is a longtime business journalist who has covered everything from municipal bonds to management, major banks and MBA programs. Prior to becoming a writer at Seneca Globe News, Steve Hart was a securities analyst and a budget and fiscal analyst. Steve can be reached at steve.hart@senecaglobe.com

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