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Peter A. Thompson, a director and significant shareholder of Edgewise Therapeutics , Inc. (NASDAQ:EWTX), recently expanded his stake in the company through notable stock purchases. The timing is particularly interesting as the stock is trading near its 52-week low of $11.50, having declined over 50% in the past week. InvestingPro data shows analyst price targets ranging from $14 to $52, suggesting potential upside. According to a recent SEC filing, Thompson acquired a total of 496,771 shares of Edgewise Therapeutics’ common stock. The shares were purchased at a price of $20.13 each, amounting to a total investment of approximately $10 million. The company maintains a strong financial position with a current ratio of 19.93, indicating robust liquidity. InvestingPro subscribers can access 13 additional key insights about EWTX’s financial health and market position in the comprehensive Pro Research Report.
The shares were acquired in an underwritten public offering. Post-transaction, Thompson’s holdings amount to 14,809,075 shares, reflecting his continued confidence in the company’s prospects. The transactions were executed on April 3, 2025, and disclosed in an SEC Form 4 filing. With a market capitalization of $1.1 billion, EWTX maintains minimal debt on its balance sheet, demonstrating prudent financial management.
In other recent news, Edgewise Therapeutics reported significant developments regarding their Phase 2 trial of EDG-7500 for hypertrophic cardiomyopathy (HCM), which showed promise despite two serious adverse events related to atrial fibrillation. The trial results have raised safety concerns among investors, leading to a 29% drop in Edgewise’s stock. In conjunction with these results, the company announced a $200 million underwritten stock offering to fund future trials and developments, including a potential U.S. commercial launch of sevasemten for Becker muscular dystrophy. RBC Capital Markets adjusted its price target for Edgewise to $52, maintaining an Outperform rating and highlighting the potential of the company’s drug pipeline. Truist Securities reiterated a Buy rating and a $50 target, expressing confidence in EDG-7500’s efficacy despite atrial fibrillation concerns. Analysts noted that the lack of a placebo control in the trial complicates the attribution of atrial fibrillation to the drug. Meanwhile, Morgan Stanley (NYSE:MS) maintained an Overweight rating on Cytokinetics (NASDAQ:CYTK), a competitor, due to a perceived safety advantage of its drug, aficamten, over Edgewise’s EDG-7500. The ongoing developments highlight the competitive landscape in the biopharmaceutical industry, where trial results can significantly impact market dynamics.
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