Edge Therapeutics (EDGE) Short Interest Update

Edge Therapeutics (NASDAQ:EDGE) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totalling 2,311,728 shares, an increase of 54.8% from the April 13th total of 1,493,401 shares. Based on an average daily trading volume, of 2,024,591 shares, the short-interest ratio is currently 1.1 days. Approximately 10.9% of the shares of the company are sold short.

In related news, insider R. Loch Macdonald sold 2,500 shares of Edge Therapeutics stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $14.49, for a total value of $36,225.00. Following the transaction, the insider now directly owns 590,602 shares in the company, valued at approximately $8,557,822.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 15,000 shares of company stock worth $224,950. 37.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Edge Therapeutics by 24.5% during the 1st quarter. BlackRock Inc. now owns 1,177,470 shares of the biotechnology company’s stock worth $1,389,000 after purchasing an additional 231,628 shares in the last quarter. Eagle Asset Management Inc. boosted its position in shares of Edge Therapeutics by 4.3% during the 4th quarter. Eagle Asset Management Inc. now owns 882,072 shares of the biotechnology company’s stock worth $8,265,000 after purchasing an additional 36,087 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Edge Therapeutics by 1,028.3% during the 1st quarter. Wells Fargo & Company MN now owns 113,765 shares of the biotechnology company’s stock worth $134,000 after purchasing an additional 103,682 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Edge Therapeutics during the 1st quarter worth $132,000. Finally, Schwab Charles Investment Management Inc. boosted its position 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 in the last quarter. Institutional investors own 49.28% of the company’s stock.

A number of equities analysts recently weighed in on the stock. BidaskClub lowered shares of Edge Therapeutics from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 30th. Credit Suisse Group lowered shares of Edge Therapeutics from an “outperform” rating to an “underperform” rating and set a $17.00 price objective on the stock. in a research report on Thursday, March 29th. JMP Securities lowered shares of Edge Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Wednesday, March 28th. Finally, ValuEngine upgraded shares of Edge Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.50.

Shares of Edge Therapeutics opened at $0.97 on Monday, according to MarketBeat. The firm has a market cap of $30.65 million, a price-to-earnings ratio of -0.58 and a beta of 3.98. Edge Therapeutics has a one year low of $0.95 and a one year high of $17.77.

Edge Therapeutics (NASDAQ:EDGE) last issued its earnings results on Tuesday, May 1st. The biotechnology company reported ($0.67) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.14).

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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