Edge Therapeutics (EDGE) Upgraded at ValuEngine

ValuEngine upgraded shares of Edge Therapeutics (NASDAQ:EDGE) from a hold rating to a buy rating in a research report report published on Thursday.

Shares of Edge Therapeutics stock traded down $0.01 during midday trading on Thursday, hitting $0.70. The company’s stock had a trading volume of 417,573 shares, compared to its average volume of 319,676. Edge Therapeutics has a 1-year low of $0.68 and a 1-year high of $17.77.

Edge Therapeutics (NASDAQ:EDGE) last released its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.16.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in Edge Therapeutics by 1,028.3% during the first quarter. Wells Fargo & Company MN now owns 113,765 shares of the biotechnology company’s stock valued at $134,000 after buying an additional 103,682 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Edge Therapeutics during the second quarter valued at about $163,000. BlackRock Inc. raised its holdings in Edge Therapeutics by 24.5% during the first quarter. BlackRock Inc. now owns 1,177,470 shares of the biotechnology company’s stock valued at $1,389,000 after buying an additional 231,628 shares in the last quarter. Finally, Millennium Management LLC increased its stake in shares of Edge Therapeutics by 2,686.1% in the second quarter. Millennium Management LLC now owns 510,212 shares of the biotechnology company’s stock worth $526,000 after purchasing an additional 491,899 shares during the period. 34.21% of the stock is owned by hedge funds and other institutional investors.

About Edge Therapeutics

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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