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 company’s stock in a transaction that occurred on 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 sale, the insider now owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Edgewise Therapeutics Stock Performance

Shares of EWTX traded down $0.36 during mid-day trading on Tuesday, hitting $26.70. 709,951 shares of the company traded hands, compared to its average volume of 933,540. 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 stock has a 50-day moving average price of $32.03 and a two-hundred day moving average price of $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 released 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, analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Quest Partners LLC grew its position in shares of Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after acquiring an additional 1,064 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Edgewise Therapeutics in the second quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after buying an additional 604 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Edgewise Therapeutics in the 3rd quarter worth approximately $161,000. Finally, Arizona State Retirement System bought a new stake in Edgewise Therapeutics during the 2nd quarter worth approximately $188,000.

Wall Street Analyst Weigh In

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

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.