Badreddin Edris Sells 115,471 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Director Badreddin Edris sold 115,471 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the completion of the sale, the director owned 19,820 shares of the company’s stock, valued at approximately $583,500.80. The trade was a 85.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Edgewise Therapeutics Stock Down 3.9%

Edgewise Therapeutics stock opened at $28.61 on Friday. The business has a 50 day moving average price of $24.62 and a two-hundred day moving average price of $18.46. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $30.48. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -18.11 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.40) by $0.01. On average, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. grew its holdings in shares of Edgewise Therapeutics by 1,170.3% during the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after purchasing an additional 2,165 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in Edgewise Therapeutics during the 2nd quarter worth about $45,000. Jones Financial Companies Lllp bought a new stake in Edgewise Therapeutics during the 1st quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. increased its position in Edgewise Therapeutics by 28.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock valued at $53,000 after acquiring an additional 894 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Edgewise Therapeutics in the first quarter worth about $84,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on EWTX shares. Wall Street Zen raised shares of Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Wedbush decreased their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada increased their target price on Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.67.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.