Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells 50,000 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the sale, the general counsel now owns 3,252 shares in the company, valued at approximately $92,259.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Edgewise Therapeutics Price Performance

Shares of EWTX traded down $0.57 on Tuesday, hitting $25.92. The company’s stock had a trading volume of 988,944 shares, compared to its average volume of 961,431. The company has a market capitalization of $2.42 billion, a PE ratio of -16.72 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 $19.06 and a 200 day moving average price of $18.20.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.02. On average, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.48 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Quest Partners LLC increased its position in Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after acquiring an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics during the second quarter valued at approximately $35,000. Ameritas Investment Partners Inc. grew its stake in shares of Edgewise Therapeutics by 37.3% during the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after purchasing an additional 1,561 shares during the last quarter. Arizona State Retirement System acquired a new stake in shares of Edgewise Therapeutics in the second quarter valued at approximately $188,000. Finally, Dark Forest Capital Management LP bought a new position in Edgewise Therapeutics in the 2nd quarter worth approximately $193,000.

Analyst Ratings Changes

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

About Edgewise Therapeutics

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.