Edge Therapeutics (NASDAQ:EDGE) traded down 6.3% during trading on Thursday . The stock traded as low as $1.15 and last traded at $1.20. 2,076,981 shares were traded during mid-day trading, an increase of 69% from the average session volume of 1,231,828 shares. The stock had previously closed at $1.28.
Several equities research analysts have commented on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $17.00 price objective on shares of Edge Therapeutics in a research note on Thursday, January 18th. BidaskClub upgraded shares of Edge Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Zacks Investment Research lowered shares of Edge Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, JMP Securities lowered shares of Edge Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 28th.
The company has a debt-to-equity ratio of 0.28, a quick ratio of 6.92 and a current ratio of 6.92. The company has a market cap of $37.04, a P/E ratio of -0.68 and a beta of 3.98.
In other Edge Therapeutics news, CEO Brian A. Leuthner sold 2,500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $13.14, for a total value of $32,850.00. Following the completion of the sale, the chief executive officer now owns 82,736 shares in the company, valued at approximately $1,087,151.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider R. Loch Macdonald sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $13.75, for a total transaction of $68,750.00. Following the sale, the insider now owns 590,602 shares of the company’s stock, valued at approximately $8,120,777.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,500 shares of company stock valued at $257,800. Company insiders own 36.19% of the company’s stock.
Several hedge funds have recently modified their holdings of EDGE. SG Americas Securities LLC purchased a new stake in shares of Edge Therapeutics during the 4th quarter worth approximately $103,000. The Manufacturers Life Insurance Company increased its stake in shares of Edge Therapeutics by 26.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,114 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 3,764 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Edge Therapeutics by 44.4% during the 3rd quarter. Wells Fargo & Company MN now owns 17,249 shares of the biotechnology company’s stock worth $186,000 after purchasing an additional 5,307 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Edge Therapeutics during the 4th quarter worth approximately $296,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Edge Therapeutics by 11.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 89,594 shares of the biotechnology company’s stock worth $840,000 after purchasing an additional 9,424 shares during the last quarter. Institutional investors own 48.89% of the company’s stock.
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Edge Therapeutics Company Profile
Edge Therapeutics, Inc, a clinical-stage biotechnology company, discovers, develops, and seeks to commercialize hospital-based therapies for acute life-threatening neurological and other conditions. Its lead product includes EG-1962, a polymer-based microparticle used for the treatment of aneurysmal subarachnoid hemorrhage.
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