Trade Report: Today, Edge Therapeutics Inc. (EDGE) Lowered by The Zacks Investment Research to Sell

Today, Edge Therapeutics Inc. (EDGE) Lowered by The Zacks Investment Research to Sell

Zacks Investment Research cut shares of Edge Therapeutics Inc. (NASDAQ:EDGE) from a hold rating to a sell rating in a research report sent to investors 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. Edge Therapeutics has a 52 week low of $6.23 and a 52 week high of $14.84. The stock has a 50 day moving average price of $10.93 and a 200-day moving average price of $9.97. The firm’s market capitalization is $360.57 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 transaction, the insider now directly owns 260,479 shares of the company’s stock, valued at approximately $2,669,909.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 44.29% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp increased its stake in Edge Therapeutics by 61.6% in the second quarter. State Street Corp now owns 158,208 shares of the company’s stock worth $1,600,000 after buying an additional 60,295 shares during the last quarter. Rhumbline Advisers bought a new stake in Edge Therapeutics during the second quarter worth $134,000. Raymond James & Associates bought a new stake in Edge Therapeutics during the second quarter worth $233,000. Teachers Advisors Inc. increased its stake in Edge Therapeutics by 209.9% in the second quarter. Teachers Advisors Inc. now owns 26,203 shares of the company’s stock worth $265,000 after buying an additional 17,747 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Edge Therapeutics by 83.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 136,781 shares of the company’s stock worth $1,383,000 after buying an additional 62,217 shares during the last quarter. 49.35% of the stock is currently owned by hedge funds and other institutional investors.

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 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).

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