Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Sells $2,120,250.00 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 75,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares of the company’s stock, valued at approximately $359,566.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $25.99 on Friday. The firm has a market capitalization of $2.44 billion, a PE ratio of -16.77 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $30.00. The business has a 50-day moving average of $19.32 and a two-hundred day moving average of $18.37.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.02. As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EWTX shares. Truist Financial boosted their price target on Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Piper Sandler reaffirmed an “overweight” rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Finally, Wedbush reissued an “outperform” rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a research report on Friday, August 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $35.00.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in EWTX. Quest Partners LLC increased its holdings in Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Edgewise Therapeutics by 37.3% in the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after buying an additional 1,561 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Edgewise Therapeutics during the 2nd quarter valued at about $35,000. Quantum Private Wealth LLC raised its holdings in shares of Edgewise Therapeutics by 5.5% during the 1st quarter. Quantum Private Wealth LLC now owns 66,674 shares of the company’s stock valued at $1,216,000 after buying an additional 3,455 shares during the period. Finally, ProShare Advisors LLC lifted its position in Edgewise Therapeutics by 51.6% during the 1st quarter. ProShare Advisors LLC now owns 16,885 shares of the company’s stock worth $308,000 after acquiring an additional 5,748 shares in 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.