Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells $59,604.32 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 3,152 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $59,604.32. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at $273,778.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Edgewise Therapeutics Stock Up 1.2 %

NASDAQ EWTX opened at $19.52 on Monday. The firm’s 50 day moving average is $16.90 and its 200-day moving average is $12.80. The company has a market capitalization of $1.82 billion, a PE ratio of -12.35 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $20.90.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). As a group, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current year.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its position in Edgewise Therapeutics by 41.5% during the first quarter. GSA Capital Partners LLP now owns 74,511 shares of the company’s stock valued at $1,359,000 after purchasing an additional 21,851 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Edgewise Therapeutics by 143.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 17,881 shares of the company’s stock valued at $326,000 after buying an additional 10,543 shares during the last quarter. Denali Advisors LLC bought a new position in shares of Edgewise Therapeutics in the first quarter valued at $350,000. Virtu Financial LLC acquired a new position in Edgewise Therapeutics during the fourth quarter worth $263,000. Finally, Perceptive Advisors LLC acquired a new position in Edgewise Therapeutics during the fourth quarter worth $6,078,000.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, April 16th. Truist Financial reiterated a “buy” rating and issued a $25.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Royal Bank of Canada raised their price objective on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, Piper Sandler assumed coverage on shares of Edgewise Therapeutics in a research note on Thursday, March 7th. They issued an “overweight” rating and a $48.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $31.20.

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.