Key Points
- Edgewise Therapeutics insider Alan Russell sold 200,000 shares on July 1 at an average price of $39.41, generating about $7.88 million. After the sale, he retained 24,555 shares, a drop of roughly 89% in his position.
- The stock was trading near $39.56, up 1.0% on the day, and sits close to its 52-week high of $43.93. Edgewise has a market cap of about $4.26 billion.
- Analysts remain generally bullish on EWTX, with an average “Moderate Buy” rating and a $47.30 price target. Recent reports from HC Wainwright, Wedbush, and Raymond James all maintained positive views with targets as high as $66.
Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) insider Alan Russell sold 200,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the completion of the transaction, the insider directly owned 24,555 shares in the company, valued at approximately $967,712.55. The trade was a 89.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Edgewise Therapeutics Stock Up 1.0%
NASDAQ:EWTX opened at $39.56 on Friday. Edgewise Therapeutics, Inc. has a 52 week low of $12.30 and a 52 week high of $43.93. The firm has a 50 day moving average of $35.16 and a 200 day moving average of $31.07. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of -23.83 and a beta of 0.27.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. As a group, analysts expect that Edgewise Therapeutics, Inc. will post -2.01 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Orbimed Advisors LLC lifted its holdings in Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company's stock valued at $203,447,000 after acquiring an additional 496,771 shares during the period. RA Capital Management L.P. grew its stake in shares of Edgewise Therapeutics by 5.3% during the 3rd quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company's stock worth $169,149,000 after purchasing an additional 525,804 shares during the period. Paradigm Biocapital Advisors LP increased its holdings in shares of Edgewise Therapeutics by 6.0% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,541,210 shares of the company's stock valued at $162,320,000 after purchasing an additional 371,079 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Edgewise Therapeutics by 29.5% during the 1st quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company's stock valued at $186,289,000 after purchasing an additional 1,348,706 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Edgewise Therapeutics by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,871,624 shares of the company's stock valued at $120,889,000 after purchasing an additional 67,683 shares during the period.
Analyst Ratings Changes
EWTX has been the topic of several research analyst reports. HC Wainwright reiterated a "buy" rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. The Goldman Sachs Group increased their price target on shares of Edgewise Therapeutics from $20.00 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday, June 17th. Truist Financial set a $52.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. Wedbush raised their target price on shares of Edgewise Therapeutics from $46.00 to $52.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Finally, Raymond James Financial restated a "strong-buy" rating and set a $66.00 target price on shares of Edgewise Therapeutics in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Edgewise Therapeutics has an average rating of "Moderate Buy" and an average target price of $47.30.
Read Our Latest Research Report on Edgewise Therapeutics
Edgewise Therapeutics Company Profile
(
Get Free Report)
Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.
At the core of Edgewise's pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.
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