John R. Moore Sells 50,000 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 50,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.37, for a total value of $1,418,500.00. Following the sale, the general counsel now directly owns 3,252 shares of the company’s stock, valued at $92,259.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Edgewise Therapeutics Stock Down 2.2 %

Shares of EWTX traded down $0.57 during trading hours on Tuesday, reaching $25.92. The stock had a trading volume of 988,944 shares, compared to its average volume of 961,431. The company has a market cap of $2.42 billion, a P/E ratio of -16.72 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $30.00. The firm has a 50-day moving average of $19.06 and a 200 day moving average of $18.20.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. As a group, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Institutional Trading of Edgewise Therapeutics

A number of large investors have recently bought and sold shares of EWTX. Quest Partners LLC lifted its stake in Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Edgewise Therapeutics by 37.3% during the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after acquiring an additional 1,561 shares during the period. Meeder Asset Management Inc. bought a new stake in Edgewise Therapeutics in the 2nd quarter valued at $35,000. Quantum Private Wealth LLC boosted its stake in Edgewise Therapeutics by 5.5% in the 1st quarter. Quantum Private Wealth LLC now owns 66,674 shares of the company’s stock worth $1,216,000 after purchasing an additional 3,455 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Edgewise Therapeutics by 51.6% during the 1st quarter. ProShare Advisors LLC now owns 16,885 shares of the company’s stock worth $308,000 after purchasing an additional 5,748 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $31.00 price target on shares of Edgewise Therapeutics in a research note on Friday, August 16th. JPMorgan Chase & Co. increased their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Truist Financial lifted 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. Piper Sandler reissued an “overweight” rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a research note on Monday, July 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price 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.