Edgewise Therapeutics (NASDAQ:EWTX) Insider Alan Russell Sells 200,000 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan Russell sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $39.41, for a total value of $7,882,000.00. Following the transaction, the insider directly owned 24,555 shares in the company, valued at approximately $967,712.55. This represents a 89.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Edgewise Therapeutics Stock Up 1.0%

EWTX stock opened at $39.56 on Friday. The business’s fifty day simple moving average is $35.16 and its two-hundred day simple moving average is $31.07. Edgewise Therapeutics, Inc. has a twelve month low of $12.30 and a twelve month high of $43.93. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of -23.83 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. Research analysts expect that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC increased its holdings in shares of Edgewise Therapeutics by 797.9% in the 4th quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock valued at $2,202,000 after acquiring an additional 78,842 shares during the period. HighVista Strategies LLC lifted its stake in shares of Edgewise Therapeutics by 198.5% during the 3rd quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock worth $3,375,000 after purchasing an additional 138,378 shares during the last quarter. Integral Health Asset Management LLC boosted its position in Edgewise Therapeutics by 50.0% during the third quarter. Integral Health Asset Management LLC now owns 1,500,000 shares of the company’s stock valued at $24,330,000 after purchasing an additional 500,000 shares in the last quarter. Aberdeen Group plc boosted its position in Edgewise Therapeutics by 32.6% during the fourth quarter. Aberdeen Group plc now owns 821,940 shares of the company’s stock valued at $20,396,000 after purchasing an additional 202,062 shares in the last quarter. Finally, UBS Group AG grew its stake in Edgewise Therapeutics by 1,755.0% in the fourth quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock valued at $52,535,000 after purchasing an additional 2,002,945 shares during the last quarter.

Wall Street Analysts Forecast Growth

EWTX has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. JPMorgan Chase & Co. increased their price objective on Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. HC Wainwright restated a “buy” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada raised their price target on Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell 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 $47.30.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.