Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers Sells 125,092 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the completion of the transaction, the chief financial officer now owns 6,904 shares in the company, valued at approximately $197,247.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock traded down $0.57 during midday trading on Tuesday, hitting $25.92. 988,944 shares of the company’s stock were exchanged, compared to its average volume of 961,431. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of -16.72 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $30.00. The firm’s 50 day simple moving average is $19.06 and its 200 day simple moving average is $18.20.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of EWTX. RA Capital Management L.P. purchased a new stake in shares of Edgewise Therapeutics in the first quarter valued at about $162,502,000. Novo Holdings A S purchased a new stake in Edgewise Therapeutics in the 2nd quarter valued at approximately $114,263,000. Baker BROS. Advisors LP increased its position in Edgewise Therapeutics by 87.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock worth $106,523,000 after purchasing an additional 2,727,273 shares during the period. Vanguard Group Inc. raised its stake in shares of Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock worth $73,278,000 after buying an additional 1,892,053 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its holdings in shares of Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock valued at $67,197,000 after buying an additional 427,500 shares during the period.

Analyst Upgrades and Downgrades

EWTX has been the topic of several recent analyst reports. Wedbush reiterated an “outperform” rating and issued a $31.00 price target on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Truist Financial lifted their price target 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. Piper Sandler reissued an “overweight” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a research report on Monday, July 1st. JPMorgan Chase & Co. lifted their target price on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics has an average rating of “Buy” and an average price target of $35.00.

Edgewise Therapeutics Company Profile

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.