Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Alan J. Russell Sells 75,000 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 75,000 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the transaction, the insider now directly owns 12,719 shares in the company, valued at approximately $359,566.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Edgewise Therapeutics Trading Down 0.2 %

Shares of NASDAQ EWTX opened at $25.87 on Thursday. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -16.69 and a beta of 0.15. The stock’s 50 day simple moving average is $19.22 and its 200 day simple moving average is $18.31. Edgewise Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $30.00.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. acquired a new stake in shares of Edgewise Therapeutics in the first quarter valued at approximately $162,502,000. Novo Holdings A S acquired a new stake in Edgewise Therapeutics in the 2nd quarter valued at approximately $114,263,000. Baker BROS. Advisors LP raised its stake in Edgewise Therapeutics by 87.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after acquiring an additional 2,727,273 shares in the last quarter. Vanguard Group Inc. boosted its position in Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock worth $73,278,000 after acquiring an additional 1,892,053 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its stake in shares of Edgewise Therapeutics by 214.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after purchasing an additional 1,818,181 shares in the last quarter.

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.