Edgewise Therapeutics chief development officer sells $882,914 in stock

Boulder, CO – Marc Semigran, the Chief Development Officer of Edgewise Therapeutics, Inc. (NASDAQ:EWTX), recently executed significant stock transactions as disclosed in a recent SEC filing. According to InvestingPro data, EWTX shares have surged 145% over the past year, with analysts setting price targets between $44-$56. On December 24, Semigran sold a total of 29,709 shares of common stock in two separate transactions, generating proceeds of approximately $882,914.

The first transaction involved the sale of 27,980 shares at an average price of $29.66, resulting in a total value of $829,906. The second transaction saw 1,729 shares sold at an average price of $30.08, amounting to $52,008. These sales were conducted under a pre-arranged trading plan, as noted in the filing. The company, currently valued at $2.73 billion, maintains strong liquidity with a current ratio of 26.35.

Additionally, Semigran acquired 29,709 shares of common stock through the exercise of stock options at a price of $8.94 per share, valued at $265,598. Following these transactions, Semigran retains direct ownership of 6,716 shares in the company.

Edgewise Therapeutics, a pharmaceutical company specializing in the development of therapies for rare muscle disorders, continues to be a focal point for investors monitoring insider trading activities.

In other recent news, Edgewise Therapeutics has made significant strides in its clinical trials and drug development. The biopharmaceutical company reported favorable Phase 2 data from its Becker Muscular Dystrophy (BMD) trial. The trial achieved its primary endpoint, showing patients treated with the investigational drug EDG-5506 demonstrated stabilization of motor function. Truist Securities has maintained a positive outlook on the stock based on these results, reiterating a Buy rating and a steady price target of $50.00.

In addition, Edgewise Therapeutics confirmed its compliance with FDA requirements amidst a recent warning issued to a researcher not associated with the company. The company is currently developing therapies for muscular dystrophies and serious cardiac conditions, with its skeletal myosin inhibitor, Sevasemten, in late-stage clinical trials for Becker and Duchenne muscular dystrophies.

Truist Securities also increased its price target for Edgewise Therapeutics from $33.00 to $50.00, reflecting a higher level of confidence in the company's prospects. The company's investigational drug EDG-5506, which is being developed for BMD and Duchenne Muscular Dystrophy (DMD), is projected to achieve adjusted global peak revenues of $1.2 billion, suggesting a potential market impact. These recent developments underline the progress Edgewise Therapeutics is making in addressing the needs of patients with BMD and other muscular dystrophies.

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