Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Alan J. Russell Sells 1,200 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) insider Alan J. Russell sold 1,200 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the sale, the insider now owns 14,863 shares of the company's stock, valued at approximately $447,822.19. This represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Edgewise Therapeutics Trading Down 0.7 %

Shares of Edgewise Therapeutics stock traded down $0.18 during trading hours on Tuesday, hitting $26.16. 860,782 shares of the company were exchanged, compared to its average volume of 942,103. The business has a 50-day moving average of $28.34 and a 200-day moving average of $26.77. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of -17.44 and a beta of 0.20. Edgewise Therapeutics, Inc. has a 1 year low of $14.90 and a 1 year high of $38.12.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Truist Financial boosted 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. Stifel Nicolaus began coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price on the stock. Wedbush upped their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Evercore ISI upped their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $41.29.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Ally Bridge Group NY LLC purchased a new position in Edgewise Therapeutics in the third quarter worth $5,010,000. Franklin Resources Inc. raised its position in Edgewise Therapeutics by 84.2% in the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company's stock worth $1,207,000 after acquiring an additional 20,674 shares in the last quarter. abrdn plc purchased a new position in Edgewise Therapeutics in the third quarter worth $6,850,000. Braidwell LP purchased a new position in Edgewise Therapeutics in the third quarter worth $52,267,000. Finally, Moody Aldrich Partners LLC purchased a new position in Edgewise Therapeutics in the third quarter worth $4,034,000.

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.