Insider Buying: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Director Acquires 484,496 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTXGet Rating) Director Peter A. Thompson purchased 484,496 shares of the company’s stock in a transaction dated Friday, September 16th. The stock was purchased at an average cost of $10.32 per share, for a total transaction of $4,999,998.72. Following the transaction, the director now owns 13,981,952 shares of the company’s stock, valued at $144,293,744.64. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Edgewise Therapeutics Trading Up 4.9 %

Shares of Edgewise Therapeutics stock opened at $9.58 on Friday. The company’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $9.04. The company has a market cap of $477.08 million, a price-to-earnings ratio of -8.40 and a beta of -0.28. Edgewise Therapeutics, Inc. has a 1 year low of $5.41 and a 1 year high of $22.98.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its stake in shares of Edgewise Therapeutics by 11.7% in the second quarter. FMR LLC now owns 2,815,284 shares of the company’s stock worth $22,410,000 after acquiring an additional 293,834 shares during the last quarter. Citadel Advisors LLC boosted its stake in Edgewise Therapeutics by 1.4% during the fourth quarter. Citadel Advisors LLC now owns 2,458,441 shares of the company’s stock worth $37,565,000 after buying an additional 33,257 shares in the last quarter. BlackRock Inc. boosted its stake in Edgewise Therapeutics by 0.4% during the first quarter. BlackRock Inc. now owns 2,055,160 shares of the company’s stock worth $19,934,000 after buying an additional 7,557 shares in the last quarter. Vanguard Group Inc. boosted its stake in Edgewise Therapeutics by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,211,093 shares of the company’s stock worth $11,748,000 after buying an additional 11,693 shares in the last quarter. Finally, Woodline Partners LP boosted its stake in Edgewise Therapeutics by 114.3% during the second quarter. Woodline Partners LP now owns 771,797 shares of the company’s stock worth $6,144,000 after buying an additional 411,704 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group lowered shares of Edgewise Therapeutics from a “neutral” rating to a “sell” rating and set a $5.00 price target on the stock. in a research report on Wednesday, August 24th.

About Edgewise Therapeutics

(Get Rating)

Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. The Company's lead product candidate, EDG-5506, is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy which has completed Phase 1 clinical trial.

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Insider Buying and Selling by Quarter for Edgewise Therapeutics (NASDAQ:EWTX)

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