Edge Therapeutics Inc. (NASDAQ:EDGE) insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $10.25, for a total transaction of $76,875.00. Following the completion of the transaction, the insider now directly owns 260,479 shares of the company’s stock, valued at approximately $2,669,909.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Shares of Edge Therapeutics Inc. (NASDAQ:EDGE) opened at 11.24 on Thursday. The company has a 50-day moving average of $10.12 and a 200 day moving average of $9.32. The company’s market capitalization is $324.81 million. Edge Therapeutics Inc. has a 52-week low of $6.23 and a 52-week high of $25.87.

Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.33) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.38) by $0.05. Analysts predict that Edge Therapeutics Inc. will post ($1.47) earnings per share for the current year.

Separately, Zacks Investment Research cut shares of Edge Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.85.

Institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors increased its position in shares of Edge Therapeutics by 71.7% in the second quarter. Nationwide Fund Advisors now owns 10,247 shares of the company’s stock valued at $104,000 after buying an additional 4,280 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its position in shares of Edge Therapeutics by 980.0% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 10,800 shares of the company’s stock valued at $109,000 after buying an additional 9,800 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Edge Therapeutics during the second quarter valued at approximately $134,000. A.R.T. Advisors LLC bought a new position in shares of Edge Therapeutics during the second quarter valued at approximately $206,000. Finally, Raymond James & Associates bought a new position in shares of Edge Therapeutics during the second quarter valued at approximately $233,000. 47.94% of the stock is owned by institutional investors and hedge funds.

Edge Therapeutics Company Profile

Edge Therapeutics, Inc is a clinical-stage biotechnology company. The Company discovers, develops and seeks to commercialize hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening conditions. The Company’s product candidates include EG-1962 and EG-1964.

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