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 dated Tuesday, December 24th. The stock was 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 directly owns 6,716 shares of the company’s stock, valued at approximately $199,398.04. This represents a 81.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $28.74 on Monday. The firm’s fifty day moving average is $32.34 and its two-hundred day moving average is $25.09. The firm 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 one year low of $9.00 and a one year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its 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. As a group, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial increased their price objective on shares of 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 reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Evercore ISI boosted their price objective 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. Piper Sandler raised their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Wedbush boosted their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $43.17.

Hedge Funds Weigh In On Edgewise Therapeutics

Several institutional investors have recently made changes to their positions in EWTX. Quest Partners LLC grew its position in Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Edgewise Therapeutics by 21.7% during the 3rd 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 period. Chicago Partners Investment Group LLC purchased a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $161,000. Finally, Arizona State Retirement System acquired a new position in Edgewise Therapeutics in the 2nd quarter worth about $188,000.

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.