Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Short Interest Update

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) was the target of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 6,140,000 shares, an increase of 8.9% from the December 31st total of 5,640,000 shares. Based on an average trading volume of 837,700 shares, the short-interest ratio is presently 7.3 days. Approximately 9.8% of the shares of the company are sold short.

Insider Transactions at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of the company'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 value of $2,737,000.00. Following the sale, the insider now owns 14,863 shares of the company's stock, valued at approximately $406,800.31. This represents a 87.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Marc Semigran sold 29,709 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the transaction, the insider now directly owns 6,716 shares of the company's stock, valued at $199,398.04. The trade was a 81.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,709 shares of company stock worth $4,309,810. Insiders own 24.11% of the company's stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. increased its position in shares of Edgewise Therapeutics by 69.9% during the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock worth $88,000 after acquiring an additional 1,361 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock valued at $88,000 after purchasing an additional 604 shares during the period. Chicago Partners Investment Group LLC purchased a new position in shares of Edgewise Therapeutics during the 3rd quarter valued at $161,000. US Bancorp DE lifted its position in Edgewise Therapeutics by 12,452.9% during the third quarter. US Bancorp DE now owns 8,536 shares of the company's stock valued at $228,000 after purchasing an additional 8,468 shares during the last quarter. Finally, Quest Partners LLC grew its position in Edgewise Therapeutics by 418.7% during the third quarter. Quest Partners LLC now owns 9,035 shares of the company's stock valued at $241,000 after acquiring an additional 7,293 shares during the last quarter.

Wall Street Analyst Weigh In

EWTX has been the topic of several research analyst reports. Truist Financial lifted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Piper Sandler lifted their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price target on the stock. Wedbush upped their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Evercore ISI upped their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.29.

Edgewise Therapeutics Stock Up 1.8 %

Shares of NASDAQ EWTX traded up $0.53 during trading hours on Wednesday, hitting $30.03. The company had a trading volume of 776,660 shares, compared to its average volume of 933,224. The firm's 50 day moving average is $28.69 and its 200-day moving average is $26.57. Edgewise Therapeutics has a 1-year low of $14.90 and a 1-year high of $38.12. The stock has a market capitalization of $2.84 billion, a P/E ratio of -20.02 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. On average, sell-side analysts predict that Edgewise Therapeutics will post -1.45 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.