Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Sells 1,907 Shares of Stock

Key Points

• Insider Alan J. Russell sold 1,907 shares of Edgewise Therapeutics, Inc. at an average price of $13.39, resulting in a total value of $25,534.73 and a 7.54% decrease in his ownership stake.
• Edgewise Therapeutics' stock price rose by 1.5%, reaching $13.93, with a market cap of approximately $1.47 billion.
• Analysts maintain a consensus rating of "Moderate Buy" for Edgewise Therapeutics, with an average price target of $41.60 following several price target upgrades from various firms.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) insider Alan J. Russell sold 1,907 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total value of $25,534.73. Following the completion of the sale, the insider directly owned 23,400 shares in the company, valued at $313,326. This trade represents a 7.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Edgewise Therapeutics Trading Up 1.5%

Shares of Edgewise Therapeutics stock traded up $0.20 during trading on Thursday, hitting $13.93. The stock had a trading volume of 387,151 shares, compared to its average volume of 632,965. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of -8.99 and a beta of 0.26. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The business's 50-day moving average is $13.93 and its 200 day moving average is $17.80.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.08. As a group, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Wedbush reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, April 21st. HC Wainwright began coverage on Edgewise Therapeutics in a report on Monday, June 30th. They set a "buy" rating and a $42.00 target price on the stock. Guggenheim began coverage on Edgewise Therapeutics in a research report on Wednesday, April 30th. They set a "buy" rating and a $41.00 price target on the stock. Raymond James Financial began coverage on Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 price target on the stock. Finally, Royal Bank Of Canada boosted their price target on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.60.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of EWTX. Orbimed Advisors LLC boosted its holdings in Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company's stock worth $203,447,000 after purchasing an additional 496,771 shares during the last quarter. Baker BROS. Advisors LP increased its holdings in Edgewise Therapeutics by 5.4% in the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company's stock valued at $164,364,000 after acquiring an additional 315,881 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Edgewise Therapeutics by 9.3% in the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company's stock worth $133,044,000 after buying an additional 425,421 shares in the last quarter. Paradigm Biocapital Advisors LP boosted its stake in shares of Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company's stock worth $119,988,000 after purchasing an additional 1,704,757 shares during the period. Finally, Cormorant Asset Management LP boosted its position in Edgewise Therapeutics by 20.4% in the 1st quarter. Cormorant Asset Management LP now owns 4,101,992 shares of the company's stock valued at $90,244,000 after buying an additional 695,458 shares during the period.

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.

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