Marc Semigran Sells 29,709 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) insider Marc Semigran sold 29,709 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 6,716 shares of the company's stock, 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 can be accessed through this hyperlink.

Edgewise Therapeutics Price Performance

NASDAQ EWTX traded down $0.92 on Friday, reaching $28.74. The stock had a trading volume of 561,433 shares, compared to its average volume of 935,535. Edgewise Therapeutics, Inc. has a 1-year low of $9.00 and a 1-year high of $38.12. The company has a market cap of $2.72 billion, a P/E ratio of -19.16 and a beta of 0.12. The firm has a fifty day moving average of $32.34 and a two-hundred day moving average of $24.98.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. Research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on EWTX shares. Piper Sandler raised 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Evercore ISI increased their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Wedbush raised 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, Truist Financial increased their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $43.17.

Institutional Investors Weigh In On Edgewise Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC lifted its position in Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company's stock worth $31,000 after purchasing an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 worth $88,000 after acquiring an additional 604 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter worth approximately $161,000. Finally, Arizona State Retirement System acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $188,000.

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.