Franklin Resources Inc. Has $27.32 Million Position in Edge Therapeutics, Inc. (EDGE)

Franklin Resources Inc. raised its stake in shares of Edge Therapeutics, Inc. (NASDAQ:EDGE) by 1.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,663,123 shares of the biotechnology company’s stock after purchasing an additional 30,100 shares during the period. Franklin Resources Inc. owned 8.64% of Edge Therapeutics worth $27,324,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EDGE. Wells Fargo & Company MN lifted its position in shares of Edge Therapeutics by 1.7% in the first quarter. Wells Fargo & Company MN now owns 11,942 shares of the biotechnology company’s stock worth $109,000 after buying an additional 200 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Edge Therapeutics by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 75,279 shares of the biotechnology company’s stock worth $773,000 after buying an additional 532 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Edge Therapeutics by 2.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 48,000 shares of the biotechnology company’s stock worth $437,000 after buying an additional 1,000 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Edge Therapeutics by 16.9% in the second quarter. Russell Investments Group Ltd. now owns 11,959 shares of the biotechnology company’s stock worth $123,000 after buying an additional 1,733 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Edge Therapeutics by 8.2% during the fourth quarter. Teachers Advisors LLC now owns 28,353 shares of the biotechnology company’s stock valued at $354,000 after purchasing an additional 2,150 shares during the period. 49.38% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on EDGE shares. Zacks Investment Research upgraded Edge Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. BidaskClub downgraded Edge Therapeutics from a “buy” rating to a “hold” rating in a report on Monday, August 14th.

Edge Therapeutics, Inc. (NASDAQ EDGE) opened at 9.69 on Tuesday. Edge Therapeutics, Inc. has a 52 week low of $7.30 and a 52 week high of $13.50. The company’s market cap is $298.95 million. The company has a 50-day moving average price of $10.38 and a 200 day moving average price of $9.87.

Edge Therapeutics (NASDAQ:EDGE) last announced its earnings results on Tuesday, August 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.44). On average, equities research analysts forecast that Edge Therapeutics, Inc. will post ($1.87) EPS for the current fiscal year.

In other news, insider Brian A. Leuthner sold 7,500 shares of the company’s stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $10.19, for a total transaction of $76,425.00. Following the sale, the insider now owns 132,736 shares of the company’s stock, valued at $1,352,579.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian A. Leuthner sold 2,500 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $10.37, for a total value of $25,925.00. Following the sale, the chief executive officer now directly owns 117,736 shares in the company, valued at approximately $1,220,922.32. The disclosure for this sale can be found here. In the last three months, insiders sold 31,000 shares of company stock worth $319,190. 36.19% of the stock is owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Edge Therapeutics (NASDAQ:EDGE)

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