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 company’s stock in a transaction 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 $199,398.04. This trade represents 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 hyperlink.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $28.74 on Friday. The firm has a 50 day simple moving average of $32.34 and a 200 day simple moving average of $25.04. Edgewise Therapeutics, Inc. has a fifty-two week low of $9.00 and a fifty-two week high of $38.12. The firm has a market cap of $2.72 billion, a P/E ratio of -19.16 and a beta of 0.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Institutional Trading of Edgewise Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Edgewise Therapeutics by 146.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock worth $4,231,000 after buying an additional 94,147 shares during the period. Exome Asset Management LLC bought a new position in Edgewise Therapeutics in the third quarter valued at approximately $1,599,000. Franklin Resources Inc. grew its holdings in Edgewise Therapeutics by 84.2% during the 3rd quarter. Franklin Resources Inc. now owns 45,223 shares of the company’s stock worth $1,207,000 after acquiring an additional 20,674 shares during the period. Barclays PLC raised its position in shares of Edgewise Therapeutics by 291.0% during the 3rd quarter. Barclays PLC now owns 119,350 shares of the company’s stock valued at $3,186,000 after acquiring an additional 88,826 shares during the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at $347,000.

Analysts Set New Price Targets

EWTX has been the topic of several analyst reports. Wedbush upped their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Evercore ISI upped their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Piper Sandler lifted 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 restated an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Finally, Truist Financial lifted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $43.17.

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.