Edgewise Therapeutics (NASDAQ:EWTX) General Counsel Sells $219,801.12 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John Moore sold 5,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total transaction of $219,801.12. Following the completion of the transaction, the general counsel directly owned 17,697 shares of the company’s stock, valued at approximately $775,482.54. The trade was a 22.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Edgewise Therapeutics Price Performance

Shares of EWTX stock traded up $0.99 during trading on Friday, reaching $44.17. The company’s stock had a trading volume of 779,899 shares, compared to its average volume of 1,187,702. Edgewise Therapeutics, Inc. has a 1-year low of $13.52 and a 1-year high of $48.40. The stock’s 50-day moving average price is $39.95 and its 200 day moving average price is $34.55. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). On average, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Institutional Trading of Edgewise Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in shares of Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after buying an additional 406 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at $45,000. Jones Financial Companies Lllp purchased a new position in shares of Edgewise Therapeutics in the 1st quarter valued at $47,000. KBC Group NV acquired a new stake in Edgewise Therapeutics during the 1st quarter worth $49,000. Finally, Seven Fleet Capital Management LP purchased a new stake in Edgewise Therapeutics in the fourth quarter valued at $50,000.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on EWTX. Oppenheimer started coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They set an “outperform” rating and a $51.00 target price for the company. Guggenheim boosted their price objective on Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Royal Bank Of Canada upped their target price on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Friday, July 17th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $66.00 target price on shares of Edgewise Therapeutics in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $49.08.

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.