Joanne M. Donovan Sells 3,682 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 3,682 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $69,626.62. Following the sale, the chief marketing officer now owns 19,897 shares in the company, valued at approximately $376,252.27. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $19.52 on Friday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -12.35 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.90. The company has a 50-day simple moving average of $16.90 and a 200 day simple moving average of $12.73.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). Sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EWTX shares. Truist Financial restated a “buy” rating and set a $25.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Piper Sandler assumed coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 target price on the stock. Royal Bank of Canada lifted their price target on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Finally, Wedbush restated an “outperform” rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $31.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Edgewise Therapeutics by 349.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after buying an additional 5,704 shares in the last quarter. AJOVista LLC acquired a new stake in Edgewise Therapeutics in the 4th quarter worth about $84,000. Pale Fire Capital SE bought a new stake in Edgewise Therapeutics in the 3rd quarter valued at about $90,000. Corton Capital Inc. acquired a new position in shares of Edgewise Therapeutics during the 3rd quarter worth approximately $98,000. Finally, SG Americas Securities LLC bought a new position in shares of Edgewise Therapeutics during the third quarter worth approximately $107,000.

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.