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).