Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Alan J. Russell Sells 1,200 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan J. Russell sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now owns 14,863 shares in the company, valued at $447,822.19. This represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Edgewise Therapeutics Trading Down 8.1 %

Edgewise Therapeutics stock opened at $26.37 on Friday. Edgewise Therapeutics, Inc. has a 12-month low of $14.90 and a 12-month high of $38.12. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -17.58 and a beta of 0.20. The firm has a 50 day moving average of $28.44 and a 200 day moving average of $26.64.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

Hedge funds have recently modified their holdings of the stock. Amundi grew its stake in Edgewise Therapeutics by 127.2% during the fourth quarter. Amundi now owns 341,687 shares of the company’s stock valued at $8,686,000 after acquiring an additional 191,267 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Edgewise Therapeutics in the fourth quarter worth about $576,000. Charles Schwab Investment Management Inc. boosted its holdings in Edgewise Therapeutics by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after acquiring an additional 15,273 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at $582,000. Finally, New York State Common Retirement Fund grew its stake in Edgewise Therapeutics by 6.4% in the 4th quarter. New York State Common Retirement Fund now owns 71,366 shares of the company’s stock worth $1,905,000 after acquiring an additional 4,284 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Evercore ISI increased their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price on the stock. Piper Sandler boosted their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Wedbush increased their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Truist Financial raised their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.29.

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.