Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells 3,152 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 3,152 shares of Edgewise Therapeutics stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $59,604.32. Following the transaction, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at approximately $273,778.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Edgewise Therapeutics Trading Up 1.2 %

Edgewise Therapeutics stock opened at $19.52 on Friday. The firm has a market cap of $1.82 billion, a P/E ratio of -12.35 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.90. The firm has a 50-day moving average of $16.90 and a 200-day moving average of $12.73.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.03). Research analysts forecast that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWTX. China Universal Asset Management Co. Ltd. increased its position in Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after purchasing an additional 5,704 shares during the period. AJOVista LLC bought a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at about $84,000. Pale Fire Capital SE purchased a new position in shares of Edgewise Therapeutics during the third quarter valued at about $90,000. Corton Capital Inc. bought a new position in Edgewise Therapeutics in the third quarter worth about $98,000. Finally, SG Americas Securities LLC purchased a new stake in Edgewise Therapeutics in the third quarter worth about $107,000.

Analyst Ratings Changes

EWTX has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and issued a $26.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Piper Sandler began coverage on Edgewise Therapeutics in a report on Thursday, March 7th. They set an “overweight” rating and a $48.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their price target on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $31.20.

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.