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 dated Friday, September 20th. The shares were sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares of the company’s stock, valued at $359,566.13. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $25.99 on Friday. The company’s fifty day moving average is $19.32 and its two-hundred day moving average is $18.37. Edgewise Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $30.00. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -16.77 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.02. Sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.47 EPS for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Edgewise Therapeutics

Hedge funds have recently made changes to their positions in the stock. Quest Partners LLC grew its stake in Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after buying an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics during the second quarter valued at $35,000. Ameritas Investment Partners Inc. grew its position in shares of Edgewise Therapeutics by 37.3% during the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after acquiring an additional 1,561 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth about $188,000. Finally, Dark Forest Capital Management LP bought a new stake in Edgewise Therapeutics in the 2nd quarter valued at about $193,000.

About Edgewise Therapeutics

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.