Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan Sells 25,000 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CMO Joanne M. Donovan sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the sale, the chief marketing officer now owns 16,358 shares of the company's stock, valued at approximately $451,971.54. This represents a 60.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Edgewise Therapeutics Trading Up 0.6 %

EWTX stock traded up $0.18 during trading on Monday, hitting $28.20. The company had a trading volume of 984,228 shares, compared to its average volume of 947,625. The company has a fifty day moving average price of $28.74 and a two-hundred day moving average price of $26.52. Edgewise Therapeutics, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $38.12. The company has a market cap of $2.67 billion, a P/E ratio of -18.80 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings results 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. On average, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB bought a new position in Edgewise Therapeutics in the fourth quarter valued at approximately $582,000. New York State Common Retirement Fund lifted its stake in shares of Edgewise Therapeutics by 6.4% in the 4th quarter. New York State Common Retirement Fund now owns 71,366 shares of the company's stock valued at $1,905,000 after purchasing an additional 4,284 shares during the period. AlphaCentric Advisors LLC acquired a new stake in Edgewise Therapeutics in the fourth quarter worth $275,000. Rhumbline Advisers lifted its holdings in shares of Edgewise Therapeutics by 1.5% in the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock worth $2,734,000 after purchasing an additional 1,525 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in Edgewise Therapeutics by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company's stock valued at $536,000 after acquiring an additional 2,042 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on EWTX shares. Truist Financial raised their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Evercore ISI increased their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Wedbush upped their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Piper Sandler lifted their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Finally, Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of "Moderate Buy" and an average 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.