Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells $259,339.08 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the sale, the chief executive officer now owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. The trade was a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock opened at $26.37 on Monday. The stock has a market capitalization of $2.50 billion, a P/E ratio of -17.58 and a beta of 0.20. Edgewise Therapeutics, Inc. has a 12-month low of $14.90 and a 12-month high of $38.12. The firm’s 50-day moving average is $28.44 and its two-hundred day moving average is $26.72.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. As a group, analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds have recently made changes to their positions in EWTX. Amundi increased its stake in Edgewise Therapeutics by 127.2% in the fourth quarter. Amundi now owns 341,687 shares of the company’s stock valued at $8,686,000 after purchasing an additional 191,267 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Edgewise Therapeutics in the 4th quarter valued at about $576,000. Charles Schwab Investment Management Inc. increased its stake in shares of Edgewise Therapeutics by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after acquiring an additional 15,273 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Edgewise Therapeutics during the 4th quarter worth about $582,000. Finally, New York State Common Retirement Fund boosted its position in shares of Edgewise Therapeutics by 6.4% in the fourth quarter. New York State Common Retirement Fund now owns 71,366 shares of the company’s stock worth $1,905,000 after acquiring an additional 4,284 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EWTX shares. Evercore ISI lifted their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Wedbush raised their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective on the stock. Finally, Truist Financial lifted their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Edgewise Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $41.29.

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.