Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore Sells 20,922 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 20,922 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the transaction, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Edgewise Therapeutics Stock Down 2.2 %

Edgewise Therapeutics stock traded down $0.57 during mid-day trading on Tuesday, hitting $25.92. The company’s stock had a trading volume of 988,944 shares, compared to its average volume of 961,431. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $30.00. The stock’s fifty day moving average price is $19.06 and its two-hundred day moving average price is $18.20. The stock has a market capitalization of $2.42 billion, a P/E ratio of -16.72 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its 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. Equities analysts expect that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Edgewise Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC boosted its holdings in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after buying an additional 1,064 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter valued at approximately $35,000. Ameritas Investment Partners Inc. boosted its stake in Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after purchasing an additional 1,561 shares during the period. Arizona State Retirement System purchased a new position in Edgewise Therapeutics during the 2nd quarter worth approximately $188,000. Finally, Dark Forest Capital Management LP acquired a new stake in Edgewise Therapeutics during the 2nd quarter valued at $193,000.

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.