Edge Therapeutics, Inc. (EDGE) Posts Quarterly Earnings Results
Edge Therapeutics, Inc. (NASDAQ:EDGE) issued its earnings results on Wednesday. The biotechnology company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.48) by $0.11, Bloomberg Earnings reports.
A number of research firms recently commented on EDGE. Zacks Investment Research upgraded shares of Edge Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. BidaskClub cut shares of Edge Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 14th.
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In related news, insider Albert N. Marchio II sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $10.42, for a total value of $26,050.00. Following the transaction, the insider now owns 3,361 shares in the company, valued at $35,021.62. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Brian A. Leuthner sold 7,500 shares of the business’s stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $10.96, for a total transaction of $82,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,500 shares of company stock worth $300,340. 36.19% of the stock is owned by company insiders.
An institutional investor recently raised its position in Edge Therapeutics stock. The Manufacturers Life Insurance Company raised its stake in Edge Therapeutics, Inc. (NASDAQ:EDGE) by 26.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,114 shares of the biotechnology company’s stock after purchasing an additional 3,764 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Edge Therapeutics worth $186,000 as of its most recent SEC filing. 49.38% of the stock is owned by hedge funds and other institutional investors.
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 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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