Edge Therapeutics Inc (NASDAQ:EDGE) insider R. Loch Macdonald sold 5,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $13.75, for a total value of $68,750.00. Following the transaction, the insider now owns 590,602 shares in the company, valued at $8,120,777.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
R. Loch Macdonald also recently made the following trade(s):
- On Thursday, February 22nd, R. Loch Macdonald sold 2,500 shares of Edge Therapeutics stock. The shares were sold at an average price of $14.49, for a total value of $36,225.00.
Shares of Edge Therapeutics Inc (EDGE) opened at $15.72 on Friday. Edge Therapeutics Inc has a 12 month low of $7.30 and a 12 month high of $15.95. The company has a debt-to-equity ratio of 0.20, a quick ratio of 8.34 and a current ratio of 8.34.
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Edge Therapeutics by 223.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,075 shares of the biotechnology company’s stock valued at $4,063,000 after purchasing an additional 261,850 shares during the period. Sphera Funds Management LTD. grew its stake in shares of Edge Therapeutics by 122.5% in the 3rd quarter. Sphera Funds Management LTD. now owns 333,737 shares of the biotechnology company’s stock valued at $3,581,000 after purchasing an additional 183,737 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Edge Therapeutics in the 2nd quarter valued at approximately $374,000. Granite Investment Partners LLC bought a new stake in shares of Edge Therapeutics in the 4th quarter valued at approximately $296,000. Finally, Teachers Advisors LLC grew its stake in shares of Edge Therapeutics by 21.1% in the 2nd quarter. Teachers Advisors LLC now owns 34,329 shares of the biotechnology company’s stock valued at $352,000 after purchasing an additional 5,976 shares during the period. Institutional investors own 49.21% of the company’s stock.
Several equities analysts recently issued reports on EDGE shares. Zacks Investment Research upgraded Edge Therapeutics from a “sell” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, November 6th. BidaskClub lowered Edge Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. 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. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $20.00.
TRADEMARK VIOLATION WARNING: This article was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://transcriptdaily.com/2018/02/25/insider-selling-edge-therapeutics-inc-edge-insider-sells-5000-shares-of-stock.html.
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.
Receive News & Ratings for Edge Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edge Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.