Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Sells $690,750.00 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the sale, the chief marketing officer now owns 16,358 shares in the company, valued at approximately $451,971.54. The trade was a 60.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Edgewise Therapeutics Trading Down 1.5 %

Shares of NASDAQ:EWTX traded down $0.42 during mid-day trading on Thursday, reaching $28.00. The stock had a trading volume of 715,135 shares, compared to its average volume of 948,871. The business’s 50 day moving average price is $28.98 and its 200 day moving average price is $26.35. Edgewise Therapeutics, Inc. has a 1 year low of $14.90 and a 1 year high of $38.12. The company has a market cap of $2.65 billion, a P/E ratio of -18.67 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. Analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

EWTX has been the topic of several recent analyst reports. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Evercore ISI raised their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Piper Sandler upped their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Truist Financial increased their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Wedbush boosted their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Edgewise Therapeutics by 1.5% during the fourth quarter. Rhumbline Advisers now owns 102,397 shares of the company’s stock valued at $2,734,000 after acquiring an additional 1,525 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Edgewise Therapeutics by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock valued at $536,000 after buying an additional 2,042 shares during the last quarter. Moody Aldrich Partners LLC raised its holdings in shares of Edgewise Therapeutics by 24.3% in the fourth quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company’s stock worth $5,018,000 after buying an additional 36,775 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Edgewise Therapeutics by 146.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock worth $4,231,000 after acquiring an additional 94,147 shares during the last quarter. Finally, Exome Asset Management LLC purchased a new position in Edgewise Therapeutics during the 3rd quarter valued at $1,599,000.

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.