Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells $578,074.86 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 20,922 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total value of $578,074.86. Following the completion of the transaction, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $25.99 on Friday. The stock has a 50-day simple moving average of $19.32 and a two-hundred day simple moving average of $18.37. Edgewise Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $30.00. The firm has a market capitalization of $2.44 billion, a PE ratio of -16.77 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.02. Equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of Edgewise Therapeutics

Several hedge funds have recently bought and sold shares of EWTX. Swiss National Bank bought a new stake in Edgewise Therapeutics during the fourth quarter valued at about $548,000. Trexquant Investment LP purchased a new position in shares of Edgewise Therapeutics in the fourth quarter valued at about $608,000. Sectoral Asset Management Inc. purchased a new position in shares of Edgewise Therapeutics in the fourth quarter valued at about $3,586,000. Pale Fire Capital SE lifted its position in shares of Edgewise Therapeutics by 529.3% in the fourth quarter. Pale Fire Capital SE now owns 98,449 shares of the company’s stock valued at $1,077,000 after acquiring an additional 82,804 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its position in shares of Edgewise Therapeutics by 214.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after acquiring an additional 1,818,181 shares in the last quarter.

Analysts Set New Price Targets

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