Edge Therapeutics Inc. (EDGE) Rating Increased to Hold at Zacks Investment Research
Edge Therapeutics Inc. (NASDAQ:EDGE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Edge Therapeutics, Inc. is a biotechnology company which discovers, develops and commercializes hospital-based therapies for acute life-threatening neurological conditions. Its lead product candidate which are in preclinical trial EG-1962, a polymer-based microparticle used for the treatment of aneurysmal subarachnoid hemorrhage, EG-1964, to prevent recurrent bleeding after treatment for cSDH and EG-1963, to prevent rebleeding following surgeries outside the brain. Edge Therapeutics, Inc. is headquartered in Berkeley Heights, New Jersey. “
Edge Therapeutics (NASDAQ:EDGE) opened at 12.37 on Tuesday. The company’s market capitalization is $357.68 million. Edge Therapeutics has a one year low of $6.23 and a one year high of $14.84. The firm’s 50-day moving average price is $10.85 and its 200 day moving average price is $9.89.
In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $10.25, for a total value of $76,875.00. Following the completion of the sale, the insider now directly owns 260,479 shares in the company, valued at $2,669,909.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 44.29% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of EDGE. BlackRock Advisors LLC raised its stake in shares of Edge Therapeutics by 76.4% in the third quarter. BlackRock Advisors LLC now owns 9,752 shares of the company’s stock valued at $102,000 after buying an additional 4,223 shares during the period. TLP Group LLC bought a new stake in shares of Edge Therapeutics during the third quarter valued at approximately $102,000. Nationwide Fund Advisors raised its stake 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 period. Mark Sheptoff Financial Planning LLC raised its stake 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 period. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Edge Therapeutics during the third quarter valued at approximately $130,000. Institutional investors and hedge funds own 48.51% of the company’s stock.
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About Edge Therapeutics
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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