Trade Report: Today, Edge Therapeutics Inc. (EDGE) Raised to Hold at The Zacks Investment Research

Today, Edge Therapeutics Inc. (EDGE) Raised to Hold at The Zacks Investment Research

Zacks Investment Research upgraded shares of Edge Therapeutics Inc. (NASDAQ:EDGE) from a sell rating to a hold rating in a research report released 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. “

Shares of Edge Therapeutics (NASDAQ:EDGE) opened at 12.37 on Tuesday. The company has a 50 day moving average price of $10.85 and a 200 day moving average price of $9.89. Edge Therapeutics has a 12-month low of $6.23 and a 12-month high of $14.84. The company’s market capitalization is $357.68 million.

In other Edge Therapeutics news, insider Brian A. Leuthner sold 7,500 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 260,479 shares in the company, valued at approximately $2,669,909.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 44.29% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in shares of Edge Therapeutics during the third quarter valued at about $130,000. TLP Group LLC bought a new stake in shares of Edge Therapeutics during the third quarter valued at about $102,000. Morgan Stanley boosted 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 valued at $235,000 after buying an additional 2,020 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Edge Therapeutics by 4.2% in the third quarter. Northern Trust Corp now owns 155,157 shares of the company’s stock valued at $1,615,000 after buying an additional 6,310 shares during the last quarter. Finally, California State Teachers Retirement System boosted 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 valued at $358,000 after buying an additional 300 shares during the last quarter. Institutional investors own 48.51% of the company’s stock.

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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