Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Short Interest Up 8.9% in December

Edgewise Therapeutics, Inc. (NASDAQ:EWTXGet Free Report) was the recipient of a large growth in short interest in the month of 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. Based on an average daily trading volume, of 837,700 shares, the short-interest ratio is presently 7.3 days. Currently, 9.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Evercore ISI raised their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, Truist Financial boosted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $43.17.

Check Out Our Latest Stock Report on Edgewise Therapeutics

Edgewise Therapeutics Price Performance

NASDAQ EWTX traded down $0.46 during trading on Monday, reaching $26.26. The company’s stock had a trading volume of 589,333 shares, compared to its average volume of 830,580. The firm has a fifty day moving average of $29.83 and a 200 day moving average of $26.03. Edgewise Therapeutics has a one year low of $9.61 and a one year high of $38.12. The stock has a market capitalization of $2.49 billion, a PE ratio of -17.51 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTXGet Free Report) last posted 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. Research analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Marc Semigran sold 29,709 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total transaction of $882,060.21. Following the sale, the insider now directly owns 6,716 shares of the company’s stock, valued at approximately $199,398.04. This trade represents a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction that occurred 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 approximately $406,800.31. This represents a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.11% of the company’s stock.

Hedge Funds Weigh In On Edgewise Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of EWTX. Mirae Asset Global Investments Co. Ltd. raised its position in 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 purchasing an additional 604 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in Edgewise Therapeutics by 69.9% in the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after acquiring an additional 1,361 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth about $161,000. Dark Forest Capital Management LP bought a new stake in shares of Edgewise Therapeutics during the 2nd quarter valued at about $193,000. Finally, Profund Advisors LLC purchased a new position in shares of Edgewise Therapeutics during the second quarter valued at about $205,000.

Edgewise Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

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