Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells 18,123 Shares of Stock

Posted by on Jun 8th, 2022

Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Rating) General Counsel John R. Moore sold 18,123 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $6.61, for a total value of $119,793.03. Following the completion of the transaction, the general counsel now directly owns 3,000 shares in the company, valued at $19,830. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

EWTX traded up $0.64 on Tuesday, hitting $6.69. 225,710 shares of the company’s stock traded hands, compared to its average volume of 318,881. The company’s 50 day simple moving average is $7.83 and its 200-day simple moving average is $12.21. Edgewise Therapeutics, Inc. has a one year low of $5.41 and a one year high of $28.34.

Edgewise Therapeutics (NASDAQ:EWTX – Get Rating) last issued its earnings results on Wednesday, May 11th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.01). Equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. increased its stake in Edgewise Therapeutics by 155.0% in the 3rd quarter. Citigroup Inc. now owns 1,497 shares of the company’s stock worth $25,000 after acquiring an additional 910 shares during the last quarter. Legal & General Group Plc increased its stake in Edgewise Therapeutics by 149.4% in the 4th quarter. Legal & General Group Plc now owns 4,651 shares of the company’s stock worth $71,000 after acquiring an additional 2,786 shares during the last quarter. Sfmg LLC bought a new stake in Edgewise Therapeutics in the 1st quarter worth approximately $98,000. Dynamic Technology Lab Private Ltd bought a new stake in Edgewise Therapeutics in the 1st quarter worth approximately $125,000. Finally, Virtus ETF Advisers LLC bought a new stake in Edgewise Therapeutics in the 4th quarter worth approximately $131,000.

EWTX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on Edgewise Therapeutics from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, February 14th. SVB Leerink reaffirmed an “outperform” rating on shares of Edgewise Therapeutics in a research report on Monday, April 25th. Royal Bank of Canada initiated coverage on Edgewise Therapeutics in a research report on Wednesday, April 13th. They set an “outperform” rating and a $31.00 price objective on the stock. Zacks Investment Research raised Edgewise Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 1st. Finally, The Goldman Sachs Group lowered their price objective on Edgewise Therapeutics from $8.00 to $5.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 24th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.50.

Edgewise Therapeutics Company Profile (Get Rating)

Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. The Company's lead product candidate, EDG-5506, is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy which has completed Phase 1 clinical trial.

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Insider Buying and Selling by Quarter for Edgewise Therapeutics (NASDAQ:EWTX)

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