Todays Report: Today, Edge Therapeutics Inc (EDGE) Rating Decreased to Sell at The Zacks Investment Research

Today, Edge Therapeutics Inc (EDGE) Rating Decreased to Sell at The Zacks Investment Research

Edge Therapeutics Inc (NASDAQ:EDGE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

Edge Therapeutics (NASDAQ:EDGE) traded down 0.40% during mid-day trading on Monday, hitting $12.47. 16,803 shares of the stock traded hands. The stock’s market cap is $360.57 million. Edge Therapeutics has a 12-month low of $6.23 and a 12-month high of $14.84. The company has a 50 day moving average of $10.93 and a 200-day moving average of $9.97.

In other news, insider Brian A. Leuthner sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $10.25, for a total value of $76,875.00. Following the completion of the transaction, 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 the SEC website. 44.29% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of EDGE. JPMorgan Chase & Co. raised its position in Edge Therapeutics by 5.1% in the first quarter. JPMorgan Chase & Co. now owns 121,150 shares of the company’s stock valued at $1,109,000 after buying an additional 5,875 shares during the last quarter. Bank of New York Mellon Corp raised its position in Edge Therapeutics by 102.7% in the second quarter. Bank of New York Mellon Corp now owns 45,280 shares of the company’s stock valued at $457,000 after buying an additional 22,937 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Edge Therapeutics by 84.4% in the second quarter. California State Teachers Retirement System now owns 34,067 shares of the company’s stock valued at $344,000 after buying an additional 15,592 shares during the period. Nationwide Fund Advisors boosted its stake 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 valued at $104,000 after buying an additional 4,280 shares during the period. Finally, Mark Sheptoff Financial Planning LLC boosted its stake 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 valued at $109,000 after buying an additional 9,800 shares during the period. 49.35% of the stock is owned by institutional investors and hedge funds.

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).

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