R Michael Carruthers Sells 125,092 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 125,092 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.57, for a total value of $3,573,878.44. Following the sale, the chief financial officer now directly owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Edgewise Therapeutics Stock Down 2.2 %

Edgewise Therapeutics stock traded down $0.57 during mid-day trading on Tuesday, reaching $25.92. 988,944 shares of the company’s stock were exchanged, compared to its average volume of 961,431. Edgewise Therapeutics, Inc. has a twelve month low of $5.12 and a twelve month high of $30.00. The company has a market cap of $2.42 billion, a P/E ratio of -16.72 and a beta of 0.15. The company has a fifty day moving average of $19.06 and a 200-day moving average of $18.20.

Edgewise Therapeutics (NASDAQ:EWTX) last announced 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. Equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Quest Partners LLC increased its stake in shares of Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after buying an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new position in Edgewise Therapeutics during the 2nd quarter worth approximately $35,000. Ameritas Investment Partners Inc. increased its position in shares of Edgewise Therapeutics by 37.3% in the 1st 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 2nd quarter valued at $188,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth $193,000.

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.