Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells $259,339.08 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the sale, the chief executive officer now owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. The trade was a 37.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock traded down $2.32 during midday trading on Friday, hitting $26.37. 1,261,112 shares of the company were exchanged, compared to its average volume of 953,608. The firm has a 50 day simple moving average of $28.58 and a 200-day simple moving average of $26.61. The firm has a market cap of $2.50 billion, a P/E ratio of -17.58 and a beta of 0.20. Edgewise Therapeutics, Inc. has a 52 week low of $14.90 and a 52 week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01. Equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EWTX. Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Evercore ISI increased their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Piper Sandler raised their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Stifel Nicolaus began coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $41.29.

Hedge Funds Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after acquiring an additional 1,361 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after purchasing an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Edgewise Therapeutics during the 3rd quarter worth $161,000. US Bancorp DE increased its stake in shares of Edgewise Therapeutics by 12,452.9% in the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after buying an additional 8,468 shares during the period. Finally, Quest Partners LLC raised its position in shares of Edgewise Therapeutics by 418.7% during the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock worth $241,000 after acquiring an additional 7,293 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.