Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Alan J. Russell Sells 1,200 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 1,200 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the sale, the insider now owns 14,863 shares in the company, valued at $447,822.19. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Edgewise Therapeutics Stock Down 8.1 %

EWTX stock opened at $26.37 on Friday. The business has a 50 day moving average of $28.44 and a 200 day moving average of $26.64. The firm has a market cap of $2.50 billion, a PE ratio of -17.58 and a beta of 0.20. Edgewise Therapeutics, Inc. has a twelve month low of $14.90 and a twelve month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results 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 expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EWTX has been the subject of a number of research reports. Evercore ISI increased their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Truist Financial raised their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report 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. Piper Sandler upped their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.29.

Institutional Trading of Edgewise Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in shares of 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 buying an additional 1,951,220 shares in the last quarter. Braidwell LP bought a new position in Edgewise Therapeutics in the 3rd quarter valued at approximately $52,267,000. State Street Corp boosted its stake in Edgewise Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company’s stock valued at $44,976,000 after purchasing an additional 20,020 shares during the last quarter. Parkman Healthcare Partners LLC increased its holdings in shares of Edgewise Therapeutics by 14.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock worth $17,537,000 after purchasing an additional 82,553 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Edgewise Therapeutics by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock worth $14,347,000 after purchasing an additional 15,273 shares during the last quarter.

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.