Short Interest in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Grows By 8.9%

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) was the recipient of a significant growth in short interest in December. As of December 31st, there was short interest totalling 6,140,000 shares, a growth of 8.9% from the December 15th total of 5,640,000 shares. Approximately 9.8% of the shares of the company are short sold. Based on an average daily trading volume, of 837,700 shares, the short-interest ratio is presently 7.3 days.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Marc Semigran sold 29,709 shares of Edgewise Therapeutics 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 sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. The trade was a 81.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the sale, the insider now owns 14,863 shares in the company, valued at $406,800.31. This represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.11% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EWTX. Rhumbline Advisers grew its holdings in shares of Edgewise Therapeutics by 16.7% during the 2nd quarter. Rhumbline Advisers now owns 98,269 shares of the company’s stock worth $1,770,000 after purchasing an additional 14,041 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth $247,000. American Century Companies Inc. grew its holdings in shares of Edgewise Therapeutics by 53.8% during the 2nd quarter. American Century Companies Inc. now owns 860,067 shares of the company’s stock worth $15,490,000 after purchasing an additional 300,733 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth $833,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Edgewise Therapeutics by 56.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 467,507 shares of the company’s stock worth $8,417,000 after purchasing an additional 168,219 shares in the last quarter.

Wall Street Analyst Weigh In

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

Edgewise Therapeutics Stock Down 1.7 %

NASDAQ:EWTX opened at $26.26 on Friday. Edgewise Therapeutics has a twelve month low of $9.61 and a twelve month high of $38.12. The business has a 50 day moving average price of $29.83 and a two-hundred day moving average price of $25.98. The company has a market cap of $2.49 billion, a P/E ratio of -17.51 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. As a group, analysts anticipate that Edgewise Therapeutics will post -1.45 earnings per share 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.