Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells $578,074.86 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the sale, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Edgewise Therapeutics Stock Down 2.2 %

Shares of NASDAQ:EWTX traded down $0.57 during trading on Tuesday, hitting $25.92. 988,944 shares of the company traded hands, compared to its average volume of 961,431. The business’s fifty day moving average is $19.06 and its 200-day moving average is $18.20. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -16.72 and a beta of 0.15. Edgewise Therapeutics, Inc. has a one year low of $5.12 and a one year high of $30.00.

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

Institutional Trading of Edgewise Therapeutics

Hedge funds have recently bought and sold shares of the company. Quest Partners LLC increased its stake in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after purchasing an additional 1,064 shares during the period. Meeder Asset Management Inc. bought a new position in Edgewise Therapeutics in the 2nd quarter worth approximately $35,000. Ameritas Investment Partners Inc. grew its holdings in Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after buying an additional 1,561 shares in the last quarter. Arizona State Retirement System acquired a new stake in Edgewise Therapeutics in the 2nd quarter valued at approximately $188,000. Finally, Dark Forest Capital Management LP bought a new stake in Edgewise Therapeutics during the 2nd quarter valued at $193,000.

Analyst Ratings Changes

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