Edgewise Therapeutics (NASDAQ:EWTX) Insider Alan Russell Sells 100,000 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan Russell sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the sale, the insider directly owned 23,400 shares of the company’s stock, valued at $494,208. This trade represents a 81.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Edgewise Therapeutics Trading Down 3.5%

EWTX stock opened at $20.42 on Friday. The stock’s 50 day simple moving average is $15.97 and its 200 day simple moving average is $14.88. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $35.50. The stock has a market capitalization of $2.16 billion, a PE ratio of -12.92 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. On average, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its position in Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after acquiring an additional 2,165 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth $45,000. Jones Financial Companies Lllp purchased a new stake in shares of Edgewise Therapeutics in the 1st quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Edgewise Therapeutics by 28.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock worth $53,000 after purchasing an additional 894 shares during the period. Finally, Allostery Investments LP purchased a new position in Edgewise Therapeutics during the first quarter valued at $66,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EWTX shares. Wedbush lowered their target price on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. The Goldman Sachs Group started coverage on shares of Edgewise Therapeutics in a report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 19th. Raymond James Financial assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, July 30th. They issued a “strong-buy” rating and a $46.00 target price for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $38.00.

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.