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 December. As of December 31st, there was short interest totalling 6,140,000 shares, an increase of 8.9% from the December 15th total of 5,640,000 shares. Based on an average daily trading volume, of 837,700 shares, the short-interest ratio is currently 7.3 days. Currently, 9.8% of the shares of the company are sold short.

Analyst Ratings Changes

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On Edgewise Therapeutics

Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Edgewise Therapeutics by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock worth $88,000 after purchasing an additional 604 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock worth $88,000 after buying an additional 1,361 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Edgewise Therapeutics in the 3rd quarter valued at approximately $161,000. Dark Forest Capital Management LP acquired a new position in shares of Edgewise Therapeutics in the second quarter worth $193,000. Finally, Profund Advisors LLC purchased a new stake in shares of Edgewise Therapeutics during the second quarter worth $205,000.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX traded down $0.46 during midday trading on Friday, hitting $26.26. The company had a trading volume of 589,333 shares, compared to its average volume of 830,580. Edgewise Therapeutics has a twelve month low of $9.61 and a twelve month high of $38.12. The business's 50-day simple moving average is $29.83 and its 200-day simple moving average is $25.98.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. Equities research analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

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.