Edgewise Therapeutics CSO Alan Russell sells $258k in stock

Edgewise Therapeutics' Chief Scientific Officer, Alan J. Russell, divested a total of 5,901 shares of the company's common stock in multiple transactions, selling them for a combined total of $258,042. The primary purpose of these sales was to fulfill tax obligations related to the vesting of his Restricted Stock Units (RSUs). These RSUs, totaling 5,781 and 7,031 shares, were granted to Russell previously.

Additionally, Russell was granted an extra 32,500 RSUs, which will vest over the course of four years. He was also offered a stock option to purchase 65,000 shares of the company's common stock, with a portion vesting each month starting from September 2026. Post these transactions, Russell currently owns 31,466 shares of Edgewise Therapeutics.

Moreover, he holds derivative securities, consisting of 32,657 RSUs and options to buy 65,000 shares. Edgewise Therapeutics Inc. has also sold its muscular dystrophy business to Servier for up to $2.65 billion, including an upfront payment of $1.55 billion. In response to this news, Oppenheimer and Guggenheim have raised their price targets for Edgewise Therapeutics to $51. RBC Capital has increased its price target to $59.