Joanne M. Donovan Sells 3,682 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 3,682 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $69,626.62. Following the transaction, the chief marketing officer now directly owns 19,897 shares in the company, valued at $376,252.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Edgewise Therapeutics Price Performance

Shares of EWTX stock traded up $0.23 during trading hours on Friday, reaching $19.52. The company had a trading volume of 545,133 shares, compared to its average volume of 906,988. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -12.67 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.90. The business has a fifty day simple moving average of $16.86 and a 200-day simple moving average of $12.64.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). On average, equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. increased its stake in Edgewise Therapeutics by 214.2% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after buying an additional 1,818,181 shares during the last quarter. Parkman Healthcare Partners LLC boosted its holdings in shares of Edgewise Therapeutics by 37.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock worth $7,129,000 after buying an additional 178,313 shares during the last quarter. Perceptive Advisors LLC bought a new position in Edgewise Therapeutics during the fourth quarter valued at about $6,078,000. Vontobel Holding Ltd. purchased a new stake in Edgewise Therapeutics during the fourth quarter worth about $3,586,000. Finally, Sectoral Asset Management Inc. bought a new stake in Edgewise Therapeutics in the fourth quarter worth about $3,586,000.

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.