Russell Alan J, the Chief Scientific Officer of Edgewise Therapeutics, Inc. (NASDAQ:EWTX), not too long ago executed a big inventory sale. On December 30, 2024, Russell bought 100,000 shares of widespread inventory, producing roughly $2.74 million. The shares have been bought at a mean price of $27.37, with transactions occurring inside a price vary of $20.00 to $27.90. The transaction comes as EWTX shares have surged 147% over the previous yr, with the corporate sustaining a robust stability sheet that includes a present ratio of 26.35.
This transaction was a part of a pre-established buying and selling plan beneath Rule 10b5-1, which Russell adopted on September 30, 2024. Following this sale, Russell’s direct possession stands at 14,863 shares. Moreover, Russell exercised choices to amass 100,000 shares at a price of $0.18 per share, which have been additionally reported on the identical date. Based on InvestingPro, analysts preserve a bullish outlook on EWTX with price targets starting from $44 to $56, suggesting potential upside from present ranges. Subscribers can entry detailed insider buying and selling analysis and 10+ extra ProTips by InvestingPro’s complete research studies.
In different current information, Edgewise Therapeutics has been making important strides in its medical trials and drug growth. The biopharmaceutical firm reported favorable Part 2 information from its Becker Muscular Dystrophy (BMD) trial, reaching statistical significance on its major endpoint. Moreover, Edgewise Therapeutics’ investigational drug EDG-5506 is projected to attain adjusted world peak revenues of $1.2 billion.
Truist Securities not too long ago reiterated a Purchase score on Edgewise, citing the constructive trial information as a big growth. The corporate additionally confirmed its compliance with FDA necessities amidst a current warning issued to a researcher not related to the corporate.
Edgewise Therapeutics shares skilled a notable improve following profitable outcomes from its Part 2 CANYON trial. The trial examined the corporate’s drug sevasemten on people with Becker muscular dystrophy and achieved its major endpoint.
Evercore ISI initiated protection on Edgewise with an Outperform score, highlighting the potential of the corporate’s pipeline, notably Sevasemten and EDG-7500. Truist Securities maintained its Purchase score for Edgewise and elevated its price goal from $33.00 to $50.00, reflecting elevated confidence within the firm’s prospects.
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