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

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Marc Semigran sold 29,709 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The stock was 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 in the company, valued at approximately $199,398.04. The trade was a 81.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Edgewise Therapeutics Stock Down 3.1 %

Shares of NASDAQ:EWTX traded down $0.92 during trading on Friday, hitting $28.74. 561,433 shares of the stock traded hands, compared to its average volume of 935,535. The company has a market cap of $2.72 billion, a price-to-earnings ratio of -19.16 and a beta of 0.12. Edgewise Therapeutics, Inc. has a 52-week low of $9.00 and a 52-week high of $38.12. The company has a fifty day moving average price of $32.48 and a two-hundred day moving average price of $24.90.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on EWTX. Wedbush increased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Truist Financial raised 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. Evercore ISI upped their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Finally, Piper Sandler upped their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Buy” and a consensus price target of $43.17.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quest Partners LLC raised its position in Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the period. Meeder Asset Management Inc. purchased a new position in Edgewise Therapeutics during the second quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. increased 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 valued at $88,000 after acquiring an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Edgewise Therapeutics in the 3rd quarter valued at approximately $161,000. Finally, Arizona State Retirement System acquired a new position in shares of Edgewise Therapeutics in the 2nd quarter worth approximately $188,000.

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.