Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan Sells 3,682 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 3,682 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $69,626.62. Following the completion of the sale, the chief marketing officer now directly owns 19,897 shares of the company’s stock, valued at $376,252.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Stock Up 1.2 %

Shares of EWTX opened at $19.52 on Friday. The business’s 50-day moving average price is $16.90 and its 200-day moving average price is $12.73. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $20.90. The stock has a market cap of $1.82 billion, a PE ratio of -12.35 and a beta of 0.15.

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

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP increased its stake in Edgewise Therapeutics by 41.5% in the 1st quarter. GSA Capital Partners LLP now owns 74,511 shares of the company’s stock worth $1,359,000 after acquiring an additional 21,851 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Edgewise Therapeutics by 143.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 17,881 shares of the company’s stock valued at $326,000 after purchasing an additional 10,543 shares in the last quarter. Denali Advisors LLC purchased a new stake in Edgewise Therapeutics during the first quarter valued at about $350,000. Virtu Financial LLC bought a new position in shares of Edgewise Therapeutics during the fourth quarter valued at about $263,000. Finally, Perceptive Advisors LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter worth about $6,078,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Wedbush reiterated an “outperform” rating and issued a $26.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Truist Financial restated a “buy” rating and set a $25.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Finally, Piper Sandler assumed coverage on shares of Edgewise Therapeutics in a research note on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price objective for the company. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $31.20.

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.