Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells $1,418,500.00 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 50,000 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.37, for a total value of $1,418,500.00. Following the completion of the transaction, the general counsel now directly owns 3,252 shares of the company’s stock, valued at approximately $92,259.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $25.99 on Friday. The stock has a market capitalization of $2.44 billion, a PE ratio of -16.77 and a beta of 0.15. Edgewise Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $30.00. The company has a 50 day moving average price of $19.32 and a 200-day moving average price of $18.37.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, August 8th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.02. Equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.47 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on EWTX shares. Truist Financial boosted their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Piper Sandler reiterated an “overweight” rating and issued a $48.00 target price on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Royal Bank of Canada reissued an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Wedbush reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. increased their target price on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Edgewise Therapeutics has a consensus rating of “Buy” and an average target price of $35.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in EWTX. RA Capital Management L.P. purchased a new stake in Edgewise Therapeutics in the first quarter valued at about $162,502,000. Novo Holdings A S purchased a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at approximately $114,263,000. Baker BROS. Advisors LP boosted its stake in Edgewise Therapeutics by 87.6% in the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock worth $106,523,000 after purchasing an additional 2,727,273 shares in the last quarter. Vanguard Group Inc. increased its stake in Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after purchasing an additional 1,892,053 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. raised its holdings in shares of Edgewise Therapeutics by 214.2% in 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 buying an additional 1,818,181 shares during the last quarter.

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.