Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Sells $2,737,000.00 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the sale, the insider now owns 14,863 shares of the company’s stock, valued at $406,800.31. The trade was a 87.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Edgewise Therapeutics Trading Up 1.2 %

Shares of EWTX opened at $27.03 on Friday. Edgewise Therapeutics, Inc. has a 1-year low of $9.00 and a 1-year high of $38.12. The firm’s 50-day moving average price is $31.87 and its 200-day moving average price is $25.23. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -18.02 and a beta of 0.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. On average, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Novo Holdings A S purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth about $114,263,000. Braidwell LP bought a new stake in Edgewise Therapeutics during the third quarter worth about $52,267,000. Janus Henderson Group PLC grew its holdings in Edgewise Therapeutics by 74.8% in the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after purchasing an additional 1,951,220 shares during the period. Millennium Management LLC increased its stake in shares of Edgewise Therapeutics by 115.2% during the second quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock valued at $20,631,000 after purchasing an additional 613,251 shares in the last quarter. Finally, Sofinnova Investments Inc. purchased a new position in shares of Edgewise Therapeutics during the second quarter valued at approximately $8,567,000.

Wall Street Analyst Weigh In

Several brokerages recently commented on EWTX. Truist Financial lifted their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Evercore ISI boosted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Piper Sandler increased their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $43.17.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.