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 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 approximately $199,398.04. The trade was a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $28.74 on Friday. The stock has a market capitalization of $2.72 billion, a P/E ratio of -19.16 and a beta of 0.12. Edgewise Therapeutics, Inc. has a one year low of $9.00 and a one year high of $38.12. The firm’s 50 day simple moving average is $32.34 and its two-hundred day simple moving average is $24.98.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wedbush lifted their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Truist Financial lifted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada restated 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 lifted their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, Piper Sandler increased their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $43.17.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EWTX. Novo Holdings A S bought a new position in Edgewise Therapeutics during the 2nd quarter worth approximately $114,263,000. Braidwell LP purchased a new stake in shares of Edgewise Therapeutics during the third quarter valued at approximately $52,267,000. Janus Henderson Group PLC grew its holdings in shares of Edgewise Therapeutics by 74.8% in the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after purchasing an additional 1,951,220 shares during the last quarter. Millennium Management LLC increased its stake in shares of Edgewise Therapeutics by 115.2% in the second quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock worth $20,631,000 after buying an additional 613,251 shares during the period. Finally, Sofinnova Investments Inc. purchased a new stake in Edgewise Therapeutics during the 2nd quarter valued at $8,567,000.

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.