Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Sells 7,162 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 7,162 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was 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 $411,280.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Edgewise Therapeutics Price Performance

NASDAQ EWTX opened at $25.99 on Friday. The firm’s fifty day moving average price is $19.32 and its 200 day moving average price is $18.37. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $30.00. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of -16.77 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. As a group, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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. JPMorgan Chase & Co. upped their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock 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 company a “buy” rating in a research note on Thursday, September 19th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 1st. Finally, Wedbush reiterated an “outperform” rating and set a $31.00 price target on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.00.

Hedge Funds Weigh In On Edgewise Therapeutics

Hedge funds have recently modified their holdings of the business. RA Capital Management L.P. purchased a new stake in Edgewise Therapeutics in the 1st quarter valued at $162,502,000. Novo Holdings A S acquired a new position in Edgewise Therapeutics in the second quarter valued at $114,263,000. Baker BROS. Advisors LP raised its holdings in shares of Edgewise Therapeutics by 87.6% in the first quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after buying an additional 2,727,273 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Edgewise Therapeutics by 89.0% during the first 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 during the period. Finally, Frazier Life Sciences Management L.P. grew its holdings in shares of Edgewise Therapeutics by 12.9% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock worth $67,197,000 after buying an additional 427,500 shares during the last quarter.

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.