Edgewise Therapeutics (NASDAQ:EWTX) CMO Sells 2,919 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 2,919 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $43.41, for a total transaction of $126,713.79. Following the transaction, the chief marketing officer owned 8,625 shares in the company, valued at approximately $374,411.25. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX traded up $0.99 during mid-day trading on Friday, hitting $44.17. The company’s stock had a trading volume of 779,900 shares, compared to its average volume of 1,187,702. Edgewise Therapeutics, Inc. has a one year low of $13.52 and a one year high of $48.40. The company’s fifty day simple moving average is $39.95 and its 200-day simple moving average is $34.55. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on EWTX shares. The Goldman Sachs Group increased their price target on Edgewise Therapeutics from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Friday, July 17th. Wedbush increased their target price on Edgewise Therapeutics from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. HC Wainwright restated a “buy” rating and set a $45.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. Finally, Leerink Partners set a $52.00 target price on Edgewise Therapeutics in a research report on Tuesday, June 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.08.

Institutional Investors Weigh In On Edgewise Therapeutics

Several large investors have recently modified their holdings of the business. Parallel Advisors LLC raised its position in shares of Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after purchasing an additional 406 shares during the period. KBC Group NV acquired a new position in shares of Edgewise Therapeutics in the 1st quarter valued at approximately $49,000. Seven Fleet Capital Management LP acquired a new position in shares of Edgewise Therapeutics in the 4th quarter valued at approximately $50,000. Jones Financial Companies Lllp bought a new stake in Edgewise Therapeutics during the 1st quarter worth approximately $47,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Edgewise Therapeutics by 23.9% during the 4th 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 in the last quarter.

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.