Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Sells $882,060.21 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Marc Semigran sold 29,709 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the completion of the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Edgewise Therapeutics Trading Down 3.1 %

EWTX stock opened at $28.74 on Friday. The stock has a 50-day moving average price of $32.34 and a two-hundred day moving average price of $25.04. Edgewise Therapeutics, Inc. has a 1 year low of $9.00 and a 1 year high of $38.12. The stock has a market cap of $2.72 billion, a PE ratio of -19.16 and a beta of 0.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data 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 earnings per share for the current fiscal year.

Institutional Trading of Edgewise Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC boosted its holdings in Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Edgewise Therapeutics during the 2nd quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. boosted its stake 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 worth $88,000 after buying an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC bought a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $161,000. Finally, Arizona State Retirement System acquired a new stake in shares of Edgewise Therapeutics in the second quarter valued at about $188,000.

Analyst Ratings Changes

Several brokerages have commented on EWTX. Piper Sandler upped their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Truist Financial boosted 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. Evercore ISI raised 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. Finally, Wedbush boosted 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. 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 target price 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.