Edgewise Therapeutics (NASDAQ:EWTX) CMO Joanne Donovan Sells 28,662 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 28,662 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total value of $926,069.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Edgewise Therapeutics Stock Down 0.8%

NASDAQ:EWTX traded down $0.26 during mid-day trading on Thursday, reaching $32.88. The company’s stock had a trading volume of 547,804 shares, compared to its average volume of 968,245. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $33.56. The stock has a fifty day moving average of $29.76 and a 200-day moving average of $23.73. The firm has a market capitalization of $3.53 billion, a PE ratio of -20.20 and a beta of 0.24.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). On average, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On Edgewise Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Braidwell LP raised its position in shares of Edgewise Therapeutics by 111.9% in the 2nd quarter. Braidwell LP now owns 5,210,831 shares of the company’s stock valued at $68,314,000 after purchasing an additional 2,752,023 shares during the last quarter. Morgan Stanley grew its position in Edgewise Therapeutics by 234.7% during the 4th quarter. Morgan Stanley now owns 2,910,881 shares of the company’s stock worth $72,234,000 after purchasing an additional 2,041,203 shares during the last quarter. UBS Group AG increased its stake in Edgewise Therapeutics by 1,755.0% during the 4th quarter. UBS Group AG now owns 2,117,073 shares of the company’s stock valued at $52,535,000 after purchasing an additional 2,002,945 shares in the last quarter. Bellevue Group AG raised its holdings in shares of Edgewise Therapeutics by 94.3% in the second quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock worth $36,393,000 after buying an additional 1,347,068 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Edgewise Therapeutics in the fourth quarter worth $18,645,000.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. HC Wainwright raised Edgewise Therapeutics to a “strong-buy” rating in a research report on Thursday, February 26th. Evercore reissued an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Piper Sandler reaffirmed an “overweight” rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.44.

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.