Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO Sells $40,788.87 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 2,157 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $40,788.87. Following the transaction, the chief financial officer now owns 35,230 shares of the company’s stock, valued at $666,199.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX traded up $0.23 during trading hours on Friday, reaching $19.52. The company’s stock had a trading volume of 545,133 shares, compared to its average volume of 906,988. The company has a market capitalization of $1.82 billion, a P/E ratio of -12.35 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 stock has a 50 day moving average price of $16.86 and a two-hundred day moving average price of $12.64.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). As a group, analysts predict that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current fiscal year.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in EWTX. Frazier Life Sciences Management L.P. increased its position in shares of Edgewise Therapeutics by 214.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after purchasing an additional 1,818,181 shares in the last quarter. Parkman Healthcare Partners LLC lifted 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 acquiring an additional 178,313 shares during the last quarter. Perceptive Advisors LLC acquired a new position in Edgewise Therapeutics during the 4th quarter worth about $6,078,000. Vontobel Holding Ltd. purchased a new position in Edgewise Therapeutics in the 4th quarter valued at approximately $3,586,000. Finally, Sectoral Asset Management Inc. acquired a new position in shares of Edgewise Therapeutics in the fourth quarter worth $3,586,000.

Wall Street Analysts Forecast Growth

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

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.