Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Short Interest Up 27.7% in March

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 5,720,000 shares, an increase of 27.7% from the March 15th total of 4,480,000 shares. Approximately 9.1% of the shares of the company are short sold. Based on an average daily trading volume, of 1,010,000 shares, the days-to-cover ratio is currently 5.7 days.

Analyst Ratings Changes

Separately, Piper Sandler began coverage on Edgewise Therapeutics in a research report on Thursday, March 7th. They set an "overweight" rating and a $48.00 price target on the stock.

Insider Activity

In related news, CFO R Michael Carruthers sold 90,000 shares of the firm's stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $15.78, for a total transaction of $1,420,200.00. Following the sale, the chief financial officer now directly owns 29,024 shares of the company's stock, valued at $457,998.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO R Michael Carruthers sold 90,000 shares of the stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $15.78, for a total transaction of $1,420,200.00. Following the sale, the chief financial officer now directly owns 29,024 shares of the company's stock, valued at $457,998.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Behrad Derakhshan sold 4,600 shares of the firm's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00. Following the sale, the insider now owns 7,020 shares in the company, valued at approximately $140,470.20. The disclosure for this sale can be found here. Insiders sold a total of 120,622 shares of company stock valued at $2,032,766 in the last quarter. 31.95% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in EWTX. Vanguard Group Inc. raised its stake in Edgewise Therapeutics by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 2,125,380 shares of the company's stock valued at $23,252,000 after purchasing an additional 60,959 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $263,000. Perceptive Advisors LLC acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at about $6,078,000. GSA Capital Partners LLP lifted its stake in shares of Edgewise Therapeutics by 19.8% in the fourth quarter. GSA Capital Partners LLP now owns 52,660 shares of the company's stock worth $576,000 after buying an additional 8,696 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Edgewise Therapeutics by 371.9% during the fourth quarter. Legal & General Group Plc now owns 16,657 shares of the company's stock worth $182,000 after acquiring an additional 13,127 shares during the last quarter.

Edgewise Therapeutics Trading Up 0.7 %

EWTX traded up $0.11 during midday trading on Monday, hitting $16.48. 403,480 shares of the company traded hands, compared to its average volume of 959,774. The business has a 50 day simple moving average of $17.41 and a two-hundred day simple moving average of $11.73. Edgewise Therapeutics has a 52-week low of $5.12 and a 52-week high of $20.69. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -10.44 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.03). Equities research analysts anticipate that Edgewise Therapeutics will post -1.76 earnings per share for the current year.

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.