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

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 75,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $359,566.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX opened at $25.87 on Thursday. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $30.00. The firm has a market capitalization of $2.43 billion, a PE ratio of -16.69 and a beta of 0.15. The business’s 50-day moving average is $19.22 and its two-hundred day moving average is $18.31.

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

Hedge Funds Weigh In On Edgewise Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC lifted its stake in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after acquiring an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Edgewise Therapeutics during the 2nd quarter worth approximately $35,000. Ameritas Investment Partners Inc. raised its position in shares of Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after purchasing an additional 1,561 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at approximately $188,000. Finally, Dark Forest Capital Management LP purchased a new position in shares of Edgewise Therapeutics during the 2nd quarter valued at approximately $193,000.

Analysts Set New Price Targets

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

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.