Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells $1,418,500.00 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 50,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the sale, the general counsel now owns 3,252 shares of the company’s stock, valued at $92,259.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Edgewise Therapeutics Trading Up 0.5 %

EWTX opened at $25.99 on Friday. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $30.00. The firm has a market capitalization of $2.44 billion, a PE ratio of -16.77 and a beta of 0.15. The firm’s 50-day moving average price is $19.32 and its 200 day moving average price is $18.37.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.02. As a group, analysts predict that Edgewise Therapeutics, Inc. will post -1.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on EWTX. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a report on Monday, July 1st. JPMorgan Chase & Co. lifted their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Truist Financial increased their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Wedbush restated an “outperform” rating and issued a $31.00 price target on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Buy” and an average price target of $35.00.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quest Partners LLC boosted its position in shares of Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after acquiring an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Edgewise Therapeutics in the 2nd quarter valued at about $35,000. Ameritas Investment Partners Inc. boosted its holdings in Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after purchasing an additional 1,561 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter valued at approximately $188,000. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $193,000.

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.