Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan Sells 5,187 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 5,187 shares of Edgewise Therapeutics stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $85,326.15. Following the completion of the sale, the chief marketing officer now directly owns 21,588 shares of the company’s stock, valued at $355,122.60. This trade represents a 19.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Edgewise Therapeutics Stock Up 0.9 %

Shares of EWTX stock opened at $14.51 on Thursday. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The company’s fifty day simple moving average is $18.67 and its 200-day simple moving average is $25.90. The firm has a market cap of $1.52 billion, a PE ratio of -9.67 and a beta of 0.36.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). On average, equities analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Guggenheim assumed coverage on Edgewise Therapeutics in a research report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 price objective for the company. Piper Sandler reissued an “overweight” rating and set a $51.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Scotiabank cut shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Wedbush reissued an “outperform” rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Finally, Stifel Nicolaus started coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.22.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Baker BROS. Advisors LP boosted its holdings in Edgewise Therapeutics by 5.4% in the 4th quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company’s stock valued at $164,364,000 after purchasing an additional 315,881 shares during the period. Janus Henderson Group PLC increased its stake in Edgewise Therapeutics by 9.3% during the 4th quarter. Janus Henderson Group PLC now owns 4,983,940 shares of the company’s stock worth $133,044,000 after acquiring an additional 425,421 shares during the period. Paradigm Biocapital Advisors LP grew its holdings in shares of Edgewise Therapeutics by 61.1% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 4,493,929 shares of the company’s stock worth $119,988,000 after purchasing an additional 1,704,757 shares in the last quarter. Braidwell LP increased its holdings in Edgewise Therapeutics by 19.1% in the 4th quarter. Braidwell LP now owns 2,332,196 shares of the company’s stock valued at $62,270,000 after buying an additional 373,886 shares during the period. Finally, Deerfield Management Company L.P. Series C raised its position in Edgewise Therapeutics by 16.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company’s stock valued at $55,496,000 after purchasing an additional 297,503 shares in the last quarter.

About Edgewise Therapeutics

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.