Insider Selling: Edge Therapeutics, Inc. (EDGE) Insider Sells $78,975.00 in Stock
Edge Therapeutics, Inc. (NASDAQ:EDGE) insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $10.53, for a total value of $78,975.00. Following the completion of the sale, the insider now owns 125,236 shares in the company, valued at approximately $1,318,735.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Edge Therapeutics, Inc. (NASDAQ EDGE) opened at 10.44 on Friday. The company’s market cap is $321.85 million. Edge Therapeutics, Inc. has a 1-year low of $7.30 and a 1-year high of $13.50. The firm has a 50-day moving average price of $10.30 and a 200 day moving average price of $9.79.
Edge Therapeutics (NASDAQ:EDGE) last announced its quarterly earnings results on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.44). On average, equities analysts anticipate that Edge Therapeutics, Inc. will post ($1.87) earnings per share for the current year.
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Several research firms have commented on EDGE. BidaskClub upgraded Edge Therapeutics from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut Edge Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday.
A number of hedge funds and other institutional investors have recently made changes to their positions in EDGE. State Street Corp raised its position in shares of Edge Therapeutics by 5.7% in the fourth quarter. State Street Corp now owns 200,301 shares of the biotechnology company’s stock valued at $2,505,000 after buying an additional 10,859 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Edge Therapeutics during the first quarter valued at about $143,000. Spark Investment Management LLC purchased a new position in shares of Edge Therapeutics during the first quarter valued at about $157,000. TFS Capital LLC purchased a new position in shares of Edge Therapeutics during the first quarter valued at about $209,000. Finally, Teachers Advisors LLC raised its position in shares of Edge Therapeutics by 8.2% in the fourth quarter. Teachers Advisors LLC now owns 28,353 shares of the biotechnology company’s stock valued at $354,000 after buying an additional 2,150 shares during the last quarter. Institutional investors and hedge funds own 48.72% of the company’s stock.
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 acute, life-threatening critical care conditions. The Company’s initial product candidates target rare, acute, life-threatening neurological and other conditions.
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