Edge Therapeutics, Inc. (EDGE) Issues Earnings Results
Edge Therapeutics, Inc. (NASDAQ:EDGE) announced its earnings results on Wednesday. The biotechnology company reported ($0.37) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.11, Bloomberg Earnings reports.
In related news, insider Brian A. Leuthner sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $10.96, for a total transaction of $82,200.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Brian A. Leuthner sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $10.93, for a total value of $27,325.00. Following the transaction, the chief executive officer now owns 110,236 shares in the company, valued at approximately $1,204,879.48. The disclosure for this sale can be found here. Insiders have sold a total of 28,500 shares of company stock worth $300,340 in the last 90 days. 36.19% of the stock is currently owned by company insiders.
A hedge fund recently raised its stake in Edge Therapeutics stock. State Street Corp increased its position in shares of Edge Therapeutics, Inc. (NASDAQ:EDGE) by 16.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 277,352 shares of the biotechnology company’s stock after buying an additional 38,909 shares during the quarter. State Street Corp owned about 0.90% of Edge Therapeutics worth $2,847,000 as of its most recent SEC filing. 49.38% of the stock is owned by hedge funds and other institutional investors.
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A number of equities analysts have commented on EDGE shares. BidaskClub upgraded shares of Edge Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Edge Therapeutics from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th.
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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