Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Sells $69,626.62 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 3,682 shares of Edgewise Therapeutics stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $69,626.62. Following the completion of the sale, the chief marketing officer now owns 19,897 shares in the company, valued at approximately $376,252.27. 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 NASDAQ EWTX opened at $19.52 on Monday. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $20.90. The company has a market capitalization of $1.82 billion, a P/E ratio of -12.35 and a beta of 0.15. The company has a 50 day simple moving average of $16.90 and a 200-day simple moving average of $12.80.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. New York State Common Retirement Fund raised its stake in shares of Edgewise Therapeutics by 228.6% in the 3rd quarter. New York State Common Retirement Fund now owns 43,871 shares of the company’s stock valued at $251,000 after acquiring an additional 30,522 shares during the period. Schonfeld Strategic Advisors LLC raised its position in Edgewise Therapeutics by 3.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock valued at $670,000 after purchasing an additional 3,900 shares during the period. abrdn plc acquired a new position in Edgewise Therapeutics during the fourth quarter worth $1,646,000. SG Americas Securities LLC purchased a new position in shares of Edgewise Therapeutics during the third quarter worth $107,000. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Edgewise Therapeutics by 349.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after buying an additional 5,704 shares during the period.

Analyst Upgrades and Downgrades

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