Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Sells 1,718 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Behrad Derakhshan sold 1,718 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $32,487.38. Following the completion of the sale, the insider now directly owns 13,422 shares of the company’s stock, valued at $253,810.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Behrad Derakhshan also recently made the following trade(s):

• On Thursday, February 8th, Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock. The shares were sold at an average price of $20.01, for a total value of $92,046.00.

Edgewise Therapeutics Stock Up 1.2 %

NASDAQ:EWTX opened at $19.52 on Friday. Edgewise Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.90. The firm’s 50-day simple moving average is $16.90 and its 200 day simple moving average is $12.73.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. lifted its position in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after acquiring an additional 5,704 shares during the period. AJOVista LLC bought a new stake in Edgewise Therapeutics during the fourth quarter worth about $84,000. Pale Fire Capital SE acquired a new stake in Edgewise Therapeutics during the third quarter worth about $90,000. Corton Capital Inc. bought a new position in Edgewise Therapeutics in the 3rd quarter valued at about $98,000. Finally, SG Americas Securities LLC acquired a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at approximately $107,000.

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.