Edge Therapeutics Inc. (NASDAQ:EDGE) insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $10.25, for a total value of $76,875.00. Following the sale, the insider now owns 260,479 shares of the company’s stock, valued at $2,669,909.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Edge Therapeutics Inc. (NASDAQ:EDGE) opened at 10.38 on Wednesday. The firm’s 50-day moving average price is $10.07 and its 200 day moving average price is $9.31. The stock’s market capitalization is $299.96 million. Edge Therapeutics Inc. has a 1-year low of $6.23 and a 1-year high of $25.87.
Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.05. Equities research analysts expect that Edge Therapeutics Inc. will post ($1.47) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted 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 worth $104,000 after buying an additional 4,280 shares during the period. Geode Capital Management LLC boosted its position in shares of Edge Therapeutics by 9.6% in the first quarter. Geode Capital Management LLC now owns 66,744 shares of the company’s stock worth $610,000 after buying an additional 5,850 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Edge Therapeutics by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 121,150 shares of the company’s stock worth $1,109,000 after buying an additional 5,875 shares during the period. Mark Sheptoff Financial Planning LLC boosted 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 worth $109,000 after buying an additional 9,800 shares during the period. Finally, Rhumbline Advisers acquired a new position in shares of Edge Therapeutics during the second quarter worth $134,000. 47.94% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research lowered Edge Therapeutics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $19.85.
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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