Marc Semigran Sells 29,709 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Marc Semigran sold 29,709 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the completion of the transaction, the insider now directly owns 6,716 shares of the company’s stock, valued at approximately $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Price Performance

Shares of EWTX stock traded down $0.92 during mid-day trading on Friday, hitting $28.74. The stock had a trading volume of 561,433 shares, compared to its average volume of 935,535. The firm has a market cap of $2.72 billion, a PE ratio of -19.16 and a beta of 0.12. The company’s 50-day simple moving average is $32.48 and its 200-day simple moving average is $24.90. Edgewise Therapeutics, Inc. has a fifty-two week low of $9.00 and a fifty-two week high of $38.12.

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

Hedge Funds Weigh In On Edgewise Therapeutics

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in Edgewise Therapeutics by 146.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock valued at $4,231,000 after acquiring an additional 94,147 shares during the last quarter. Exome Asset Management LLC purchased a new stake in Edgewise Therapeutics in the 3rd quarter valued at approximately $1,599,000. Franklin Resources Inc. raised its holdings in shares of Edgewise Therapeutics by 84.2% in the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company’s stock worth $1,207,000 after acquiring an additional 20,674 shares during the last quarter. Barclays PLC raised its stake in Edgewise Therapeutics by 291.0% in the 3rd quarter. Barclays PLC now owns 119,350 shares of the company’s stock valued at $3,186,000 after purchasing an additional 88,826 shares during the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in Edgewise Therapeutics in the 3rd quarter valued at about $347,000.

Wall Street Analyst Weigh In

Several analysts recently weighed in on EWTX shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. 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. Wedbush upped their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial upped their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler lifted their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average 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.