Edgewise Therapeutics (NASDAQ:EWTX) CMO Joanne Donovan Sells 28,662 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 28,662 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total value of $926,069.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock opened at $33.33 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -20.45 and a beta of 0.24. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $33.56. The stock’s 50 day moving average price is $29.83 and its two-hundred day moving average price is $23.79.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). On average, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EWTX. Seven Fleet Capital Management LP acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter worth about $50,000. Jones Financial Companies Lllp acquired a new position in Edgewise Therapeutics during the 1st quarter valued at about $47,000. Bessemer Group Inc. increased its holdings in Edgewise Therapeutics by 1,170.3% during the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after purchasing an additional 2,165 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Edgewise Therapeutics by 23.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after purchasing an additional 550 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Edgewise Therapeutics in the second quarter worth approximately $45,000.

Analyst Ratings Changes

EWTX has been the topic of a number of research analyst reports. Evercore reissued an “outperform” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Raymond James Financial set a $46.00 price target on Edgewise Therapeutics in a research note on Tuesday, March 10th. Stifel Nicolaus set a $25.00 price target on Edgewise Therapeutics in a report on Thursday, February 26th. Wall Street Zen cut Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, HC Wainwright upgraded Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $38.44.

Edgewise Therapeutics Company Profile

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.