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 Edgewise Therapeutics stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.29, for a total value of $202,612.98. Following 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX opened at $25.99 on Friday. The company has a market capitalization of $2.44 billion, a PE ratio of -16.77 and a beta of 0.15. The company’s fifty day moving average price is $19.32 and its 200 day moving average price is $18.37. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.47 EPS for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Swiss National Bank purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $548,000. Trexquant Investment LP purchased a new stake in Edgewise Therapeutics in the 4th quarter worth $608,000. Sectoral Asset Management Inc. acquired a new position in Edgewise Therapeutics during the fourth quarter worth $3,586,000. Pale Fire Capital SE lifted its holdings in Edgewise Therapeutics by 529.3% during the fourth quarter. Pale Fire Capital SE now owns 98,449 shares of the company’s stock valued at $1,077,000 after purchasing an additional 82,804 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its holdings in Edgewise Therapeutics by 214.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after purchasing an additional 1,818,181 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EWTX shares. Truist Financial raised their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. JPMorgan Chase & Co. raised their target price 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. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a report on Monday, July 1st. Wedbush reaffirmed an “outperform” rating and set a $31.00 price target on shares of Edgewise Therapeutics in a research report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company 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.