Edge Therapeutics (EDGE) Sees Strong Trading Volume

Edge Therapeutics Inc (NASDAQ:EDGE) saw strong trading volume on Friday . 6,794,166 shares were traded during mid-day trading, an increase of 751% from the previous session’s volume of 798,418 shares.The stock last traded at $0.68 and had previously closed at $0.57.

Separately, ValuEngine raised Edge Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Edge Therapeutics currently has an average rating of “Hold” and an average price target of $17.00.

Edge Therapeutics (NASDAQ:EDGE) last posted its earnings results on Thursday, November 1st. The biotechnology company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.16.

A number of large investors have recently bought and sold shares of EDGE. Millennium Management LLC increased its holdings in Edge Therapeutics by 2,686.1% in the second quarter. Millennium Management LLC now owns 510,212 shares of the biotechnology company’s stock valued at $526,000 after buying an additional 491,899 shares during the last quarter. BlackRock Inc. increased its holdings in Edge Therapeutics by 24.5% in 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 during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in Edge Therapeutics in the second quarter valued at $163,000. 34.22% of the stock is currently owned by hedge funds and other institutional investors.

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Edge Therapeutics Company Profile (NASDAQ:EDGE)

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.

See Also: Understanding Average Daily Trade Volume

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