Russell Alan J, Chief Scientific Officer of Edgewise Therapeutics, Inc. (NASDAQ: EWTX), just lately accomplished a big inventory sale. On December 30, 2024, Russell offered 100,000 shares of frequent inventory, elevating roughly $2.74 million. The shares have been offered at a mean worth of $27.37, with transactions falling inside a worth vary of $20.00 to $27.90. The transaction comes as EWTX shares have surged 147% over the previous 12 months, with the corporate sustaining a powerful steadiness sheet with a present ratio of 26.35.
This transaction was a part of a pre-established buying and selling plan below Rule 10b5-1, which Russell adopted on September 30, 2024. On account of this sale, Russell’s direct possession totals 14,863 shares. Moreover, Russell exercised choices to accumulate 100,000 shares at a worth of $0.18 per share, which have been additionally declared on the identical date. Based on InvestProanalysts preserve a bullish outlook on EWTX with worth targets starting from $44 to $56, suggesting upside potential from present ranges. Subscribers can entry detailed insider buying and selling evaluation and over 10 further ProTips through InvestingPro’s complete analysis reviews.
Moreover, Edgewise Therapeutics has made important progress in its scientific trials and drug growth. The biopharmaceutical firm reported favorable part 2 information from its Becker muscular dystrophy (BMD) trial, reaching statistical significance on its main endpoint. Moreover, Edgewise Therapeutics’ investigational drug EDG-5506 is predicted to realize adjusted international income of $1.2 billion.
Truist Securities just lately reiterated a Purchase ranking on Edgewise, citing constructive trial information as a big growth. The corporate additionally confirmed its compliance with FDA necessities amid a current warning issued to a researcher not related to the corporate.
Shares of Edgewise Therapeutics noticed a notable enhance following constructive outcomes from its Section 2 CANYON trial. The trial examined the corporate’s drug sevasemten on folks with Becker muscular dystrophy and met its main objective.
Evercore ISI initiated protection on Edgewise with an outperform ranking, highlighting the potential of the corporate’s pipeline, significantly Sevasemten and EDG-7500. Truist Securities maintained its Purchase ranking on Edgewise and elevated its worth goal from $33.00 to $50.00, reflecting elevated confidence within the firm’s prospects.
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