Eagle Asset Management Inc. boosted its stake in Edge Therapeutics Inc (NASDAQ:EDGE) by 4.4% during the first quarter, Holdings Channel reports. The fund owned 899,968 shares of the biotechnology company’s stock after buying an additional 37,536 shares during the period. Eagle Asset Management Inc.’s holdings in Edge Therapeutics were worth $8,198,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EDGE. Wells Fargo & Company MN increased its position in Edge Therapeutics by 1.7% in the first quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 200 shares during the last quarter. Teachers Advisors LLC increased its position in Edge Therapeutics by 8.2% in the fourth quarter. Teachers Advisors LLC now owns 28,353 shares of the biotechnology company’s stock valued at $354,000 after buying an additional 2,150 shares during the last quarter. JPMorgan Chase & Co. increased its position in Edge Therapeutics by 7.2% in the third quarter. JPMorgan Chase & Co. now owns 125,375 shares of the biotechnology company’s stock valued at $1,305,000 after buying an additional 8,450 shares during the last quarter. TLP Group LLC purchased a new position in Edge Therapeutics during the third quarter valued at approximately $102,000. Finally, State Street Corp increased its position in Edge Therapeutics by 5.7% in the fourth quarter. State Street Corp now owns 200,301 shares of the biotechnology company’s stock valued at $2,505,000 after buying an additional 10,859 shares during the last quarter. Institutional investors own 49.25% of the company’s stock.
Edge Therapeutics Inc (NASDAQ:EDGE) traded down 2.62% on Friday, reaching $9.65. The company’s stock had a trading volume of 81,680 shares. Edge Therapeutics Inc has a 52 week low of $7.30 and a 52 week high of $13.50. The company has a 50 day moving average of $9.65 and a 200 day moving average of $10.42. The firm’s market capitalization is $297.33 million.
Edge Therapeutics (NASDAQ:EDGE) last announced its earnings results on Wednesday, May 3rd. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.42). On average, analysts forecast that Edge Therapeutics Inc will post ($1.81) earnings per share for the current year.
Several research analysts have commented on the company. Leerink Swann restated an “outperform” rating and set a $21.00 price objective on shares of Edge Therapeutics in a report on Friday, March 3rd. Guggenheim restated an “in-line” rating and set a $30.00 price objective on shares of Edge Therapeutics in a report on Friday, March 3rd.
In other news, Director James J. Loughlin bought 3,000 shares of the business’s stock in a transaction on Monday, March 6th. The shares were bought at an average price of $9.24 per share, with a total value of $27,720.00. Following the completion of the transaction, the director now directly owns 19,625 shares in the company, valued at $181,335. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 44.29% of the stock is owned by insiders.
About Edge Therapeutics
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 acute, life-threatening critical care conditions. The Company’s initial product candidates target rare, acute, life-threatening neurological and other conditions.
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