Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Sells $202,612.98 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 7,162 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.29, for a total value of $202,612.98. Following the completion of the sale, the chief marketing officer now directly owns 14,538 shares of the company’s stock, valued at approximately $411,280.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Edgewise Therapeutics Stock Down 2.2 %

Shares of EWTX traded down $0.57 during trading on Tuesday, reaching $25.92. 988,944 shares of the company traded hands, compared to its average volume of 961,431. The stock has a 50-day simple moving average of $19.06 and a 200-day simple moving average of $18.20. The stock has a market cap of $2.42 billion, a PE ratio of -16.72 and a beta of 0.15. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $30.00.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.02. On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.48 EPS for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds have recently bought and sold shares of EWTX. Sofinnova Investments Inc. acquired a new position in Edgewise Therapeutics in the 2nd quarter valued at about $8,567,000. Pale Fire Capital SE lifted its position in shares of Edgewise Therapeutics by 529.3% during the fourth quarter. Pale Fire Capital SE now owns 98,449 shares of the company’s stock worth $1,077,000 after purchasing an additional 82,804 shares in the last quarter. Perceptive Advisors LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $6,078,000. Trexquant Investment LP acquired a new position in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $608,000. Finally, Federated Hermes Inc. purchased a new stake in Edgewise Therapeutics during the 2nd quarter worth approximately $833,000.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EWTX. Wedbush restated an “outperform” rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a report on Friday, August 16th. Piper Sandler reissued an “overweight” rating and issued a $48.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 1st. Truist Financial lifted their target price on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $35.00.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.