R Michael Carruthers Sells 125,092 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 125,092 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now directly owns 6,904 shares in the company, valued at $197,247.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Trading Down 0.2 %

Shares of EWTX stock opened at $25.87 on Thursday. Edgewise Therapeutics, Inc. has a 1 year low of $5.12 and a 1 year high of $30.00. The firm’s 50 day moving average is $19.22 and its 200-day moving average is $18.31. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of -16.69 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.02. On average, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

Several large investors have recently bought and sold shares of EWTX. Swiss National Bank bought a new stake in Edgewise Therapeutics in the fourth quarter valued at approximately $548,000. Trexquant Investment LP bought a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $608,000. Sectoral Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $3,586,000. Pale Fire Capital SE increased its position in shares of Edgewise Therapeutics by 529.3% during the fourth quarter. Pale Fire Capital SE now owns 98,449 shares of the company’s stock worth $1,077,000 after acquiring an additional 82,804 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its position in shares of 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 worth $29,179,000 after acquiring an additional 1,818,181 shares in the last quarter.

Analyst Upgrades and Downgrades

EWTX has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a report on Monday, July 1st. Truist Financial upped their price target on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $31.00 target price on shares of Edgewise Therapeutics in a research report on Friday, August 16th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $35.00.

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.