Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells 8,636 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CEO Kevin Koch sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total value of $259,339.08. Following the transaction, the chief executive officer now directly owns 14,478 shares of the company's stock, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Edgewise Therapeutics Stock Down 0.7 %

Shares of EWTX stock traded down $0.18 during mid-day trading on Tuesday, hitting $26.16. 860,782 shares of the company's stock were exchanged, compared to its average volume of 942,103. Edgewise Therapeutics, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $38.12. The stock has a 50-day simple moving average of $28.34 and a two-hundred day simple moving average of $26.77. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -17.44 and a beta of 0.20.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds have recently made changes to their positions in the business. EFG Asset Management North America Corp. acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $1,103,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $182,000. Quantbot Technologies LP acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $103,000. Teacher Retirement System of Texas boosted its holdings in shares of Edgewise Therapeutics by 18.9% during the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock worth $298,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Edgewise Therapeutics by 75.1% during the fourth quarter. Intech Investment Management LLC now owns 34,844 shares of the company's stock worth $930,000 after purchasing an additional 14,944 shares during the last quarter.

Analysts Set New Price Targets

EWTX has been the subject of several research analyst reports. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective for the company. Truist Financial increased their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Wedbush increased their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Evercore ISI increased their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $41.29.

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.