Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Short Interest Up 8.9% in December

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 6,140,000 shares, a growth of 8.9% from the December 15th total of 5,640,000 shares. Approximately 9.8% of the company’s stock are sold short. Based on an average daily volume of 837,700 shares, the short-interest ratio is currently 7.3 days.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Marc Semigran sold 29,709 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company’s stock, valued at approximately $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.11% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in EWTX. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after acquiring an additional 604 shares during the period. Meeder Asset Management Inc. raised its position in Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after purchasing an additional 1,361 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Edgewise Therapeutics by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock worth $2,250,000 after purchasing an additional 4,426 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Edgewise Therapeutics in the third quarter worth about $161,000. Finally, Quantum Private Wealth LLC grew its stake in shares of Edgewise Therapeutics by 10.0% during the third quarter. Quantum Private Wealth LLC now owns 73,424 shares of the company’s stock valued at $1,960,000 after buying an additional 6,650 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EWTX. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler upped their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Evercore ISI raised their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $43.17.

Edgewise Therapeutics Stock Down 1.7 %

NASDAQ EWTX traded down $0.46 during trading on Monday, hitting $26.26. 589,333 shares of the stock traded hands, compared to its average volume of 830,580. Edgewise Therapeutics has a 12-month low of $9.61 and a 12-month high of $38.12. The firm has a 50-day simple moving average of $29.83 and a 200-day simple moving average of $26.03. The company has a market capitalization of $2.49 billion, a P/E ratio of -17.51 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. As a group, research analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current fiscal 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.