Zacks Investment Research downgraded shares of Edge Therapeutics Inc. (NASDAQ:EDGE) from a hold rating to a sell rating in a report published on Monday.

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. “

Shares of Edge Therapeutics (NASDAQ:EDGE) opened at 12.47 on Monday. The firm has a 50-day moving average of $10.93 and a 200-day moving average of $9.97. Edge Therapeutics has a one year low of $6.23 and a one year high of $14.84. The firm’s market capitalization is $360.57 million.

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In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of Edge Therapeutics stock in a transaction on Monday, October 3rd. The stock was 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 $2,669,909.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 44.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in EDGE. California State Teachers Retirement System raised its stake in shares of Edge Therapeutics by 0.9% in the third quarter. California State Teachers Retirement System now owns 34,367 shares of the company’s stock worth $358,000 after buying an additional 300 shares during the period. Rhumbline Advisers raised its stake in shares of Edge Therapeutics by 12.8% in the third quarter. Rhumbline Advisers now owns 14,950 shares of the company’s stock worth $156,000 after buying an additional 1,700 shares during the period. Morgan Stanley raised its stake in shares of Edge Therapeutics by 9.8% in the third quarter. Morgan Stanley now owns 22,549 shares of the company’s stock worth $235,000 after buying an additional 2,020 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Edge Therapeutics by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 140,310 shares of the company’s stock worth $1,461,000 after buying an additional 3,529 shares during the period. Finally, 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 worth $102,000 after buying an additional 4,223 shares during the period. Institutional investors own 49.35% of the company’s stock.

Edge Therapeutics Company Profile

Edge Therapeutics, Inc is a clinical-stage biotechnology company that discovers, develops and seeks to commercialize, hospital-based therapies capable of transforming treatment paradigms in the management of life-threatening neurological and other conditions. Edge is evaluating EG-1962, its lead product candidate, in the Phase 3 NEWTON 2 study in adult patients with aneurysmal subarachnoid hemorrhage (aSAH).

5 Day Chart for NASDAQ:EDGE

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