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 Edgewise Therapeutics stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the sale, the insider now owns 14,863 shares of the company’s stock, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $26.70 on Thursday. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of -17.80 and a beta of 0.12. The firm’s 50-day moving average is $32.03 and its 200 day moving average is $25.22. Edgewise Therapeutics, Inc. has a 1 year low of $9.00 and a 1 year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after buying an additional 604 shares during the last quarter. Quest Partners LLC raised its position in Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after buying an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. raised its position in Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after buying an additional 1,361 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Edgewise Therapeutics by 5.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock worth $2,250,000 after buying an additional 4,426 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in Edgewise Therapeutics in the 3rd quarter worth about $161,000.

Wall Street Analyst Weigh In

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