Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Alan J. Russell Sells 100,000 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at approximately $406,800.31. This represents a 87.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Edgewise Therapeutics Price Performance

EWTX stock 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 company has a market cap of $2.56 billion, a P/E ratio of -18.02 and a beta of 0.12. The stock’s fifty day moving average price is $31.87 and its 200-day moving average price is $25.23.

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

Analysts Set New Price Targets

Several brokerages have issued reports 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 report on Wednesday, November 27th. Wedbush upped their price objective on 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 reissued an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Evercore ISI upped 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 boosted their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Buy” and a consensus price target of $43.17.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently added to or reduced their stakes in EWTX. Novo Holdings A S bought a new position in Edgewise Therapeutics in the second quarter worth approximately $114,263,000. Janus Henderson Group PLC increased its stake in shares of Edgewise Therapeutics by 74.8% in the 3rd 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 in the last quarter. Frazier Life Sciences Management L.P. raised its holdings in Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock worth $67,197,000 after purchasing an additional 427,500 shares during the period. Braidwell LP purchased a new position in Edgewise Therapeutics during the third quarter valued at $52,267,000. Finally, State Street Corp grew its holdings in Edgewise Therapeutics by 1.2% during the third 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 period.

Edgewise Therapeutics Company Profile

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.