Edge Therapeutics Inc (NASDAQ:EDGE)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.55 and last traded at $17.63, with a volume of 46604 shares changing hands. The stock had previously closed at $17.20.
EDGE has been the topic of several research reports. BidaskClub lowered Edge Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. Zacks Investment Research lowered Edge Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, Credit Suisse Group restated an “outperform” rating and set a $17.00 price target on shares of Edge Therapeutics in a research note on Thursday, January 18th.
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 stock has a market cap of $530.95, a P/E ratio of -10.24 and a beta of 2.31.
Edge Therapeutics (NASDAQ:EDGE) last issued its quarterly earnings results on Thursday, March 1st. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.02).
In other Edge Therapeutics news, insider Brian A. Leuthner sold 5,000 shares of Edge Therapeutics stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $10.11, for a total transaction of $50,550.00. Following the sale, the insider now directly owns 87,736 shares of the company’s stock, valued at $887,010.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian A. Leuthner sold 2,500 shares of Edge Therapeutics stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $13.14, for a total value of $32,850.00. Following the sale, the chief executive officer now directly owns 82,736 shares in the company, valued at $1,087,151.04. The disclosure for this sale can be found here. Insiders have sold 17,500 shares of company stock worth $225,400 over the last 90 days. Corporate insiders own 36.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Edge Therapeutics by 1.3% during the fourth quarter. BlackRock Inc. now owns 945,842 shares of the biotechnology company’s stock valued at $8,863,000 after purchasing an additional 11,836 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in Edge Therapeutics by 4.3% during the fourth quarter. Eagle Asset Management Inc. now owns 882,072 shares of the biotechnology company’s stock valued at $8,265,000 after purchasing an additional 36,087 shares in the last quarter. Granite Investment Partners LLC acquired a new stake in Edge Therapeutics during the fourth quarter valued at approximately $296,000. SG Americas Securities LLC acquired a new stake in Edge Therapeutics during the fourth quarter valued at approximately $103,000. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Edge Therapeutics by 11.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 89,594 shares of the biotechnology company’s stock valued at $840,000 after purchasing an additional 9,424 shares in the last quarter. 48.89% of the stock is currently owned by institutional investors.
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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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