Russell Alan J, the Chief Scientific Officer of Edgewise Therapeutics , Inc. (NASDAQ:EWTX), executed a series of stock transactions recently, as detailed in a recent SEC filing. On February 5 and 6, 2025, Russell sold a total of 9,215 shares of common stock, generating approximately $276,776. The shares were sold at prices ranging from $30.0216 to $30.1275. These sales were conducted under a pre-established Rule 10b5-1 trading plan adopted on September 30, 2024. The timing of these transactions comes as EWTX shares have shown remarkable strength, posting an 80% gain over the past six months, according to InvestingPro data.
In addition to these sales, Russell exercised stock options to acquire 9,215 shares at a price of $0.18 per share, totaling $1,658. Following these transactions, Russell's direct ownership of Edgewise Therapeutics stock stands at 14,863 shares. With the company's market capitalization at $2.51 billion and its next earnings report due in 13 days, investors seeking deeper insights can access comprehensive analysis through InvestingPro's detailed research reports, which show strong analyst price targets up to $56 per share.
In other recent news, Edgewise Therapeutics has been making significant strides with its executive team and clinical trials. The biotechnology company recently promoted Behrad Derakhshan, Ph.D., to the position of Chief Operating Officer, a move that is part of a planned leadership transition. Dr. Derakhshan's new annual base salary will increase to $520,000, with his target bonus rising to 45% of his annual base salary starting in 2025.
The company also announced the appointment of Robert Blaustein, M.D., Ph.D., as Chief Development Officer, who will lead the development of EDG-7500, a novel cardiac sarcomere modulator currently in Phase 2 development. These recent developments are part of Edgewise Therapeutics' ongoing efforts to strengthen its executive team and bolster its clinical development efforts.
In addition, Stifel analysts initiated coverage of Edgewise Therapeutics with a Hold rating, acknowledging the promising science behind its two clinical-stage assets, EDG-7500 and sevasemten, while also recognizing the significant risks and uncertainties associated with their development. Piper Sandler also identified Edgewise Therapeutics as one of several companies with key Phase 2b readouts expected in 2025.
Lastly, Edgewise Therapeutics reported favorable Phase 2 data from its Becker Muscular Dystrophy (BMD) trial, a development that led Truist Securities to reiterate its Buy rating and steady price target of $50.00 for the company. The successful trial represents a significant step forward in addressing the needs of patients with BMD, a condition characterized by progressive muscle weakness and degeneration.
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