Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells $259,339.08 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Edgewise Therapeutics Stock Down 8.1 %

NASDAQ:EWTX opened at $26.37 on Monday. The business’s 50-day moving average price is $28.44 and its 200 day moving average price is $26.72. Edgewise Therapeutics, Inc. has a 52-week low of $14.90 and a 52-week high of $38.12. The firm has a market cap of $2.50 billion, a P/E ratio of -17.58 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. Sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Evercore ISI boosted their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Stifel Nicolaus began coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price for the company. Finally, Wedbush lifted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.29.

Institutional Investors Weigh In On Edgewise Therapeutics

Large investors have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in shares of Edgewise Therapeutics by 74.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after buying an additional 1,951,220 shares during the last quarter. Braidwell LP acquired a new stake in Edgewise Therapeutics in the third quarter valued at approximately $52,267,000. State Street Corp boosted its holdings in shares of Edgewise Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company’s stock worth $44,976,000 after buying an additional 20,020 shares during the period. Parkman Healthcare Partners LLC grew its stake in Edgewise Therapeutics by 14.4% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock valued at $17,537,000 after buying an additional 82,553 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Edgewise Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock worth $14,347,000 after acquiring an additional 15,273 shares during the period.

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.