Edgewise Therapeutics (NASDAQ:EWTX) Insider Alan Russell Sells 5,901 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Alan Russell sold 5,901 shares of Edgewise Therapeutics stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.73, for a total transaction of $258,050.73. Following the completion of the sale, the insider owned 31,466 shares in the company, valued at approximately $1,376,008.18. This trade represents a 15.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.99 during mid-day trading on Friday, reaching $44.17. 779,899 shares of the company traded hands, compared to its average volume of 1,187,702. Edgewise Therapeutics, Inc. has a 52-week low of $13.52 and a 52-week high of $48.40. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30. The firm’s 50 day moving average price is $39.95 and its 200 day moving average price is $34.55.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current year.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its stake in shares of Edgewise Therapeutics by 64.9% in the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after acquiring an additional 406 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Edgewise Therapeutics during the second quarter worth about $45,000. Jones Financial Companies Lllp bought a new stake in Edgewise Therapeutics during the first quarter worth about $47,000. KBC Group NV purchased a new stake in Edgewise Therapeutics in the first quarter worth about $49,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Edgewise Therapeutics in the fourth quarter worth about $50,000.

Analyst Ratings Changes

EWTX has been the subject of several research analyst reports. Wedbush raised their price objective 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. Royal Bank Of Canada upped their target price on Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Leerink Partners set a $52.00 target price on Edgewise Therapeutics in a research report on Tuesday, June 16th. Guggenheim raised their target price on Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Oppenheimer assumed coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They issued an “outperform” rating and a $51.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.08.

About Edgewise Therapeutics

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.