Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells 3,152 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 3,152 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $59,604.32. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at approximately $273,778.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Edgewise Therapeutics Stock Performance

EWTX stock opened at $19.52 on Monday. The company’s fifty day moving average price is $16.90 and its 200-day moving average price is $12.80. Edgewise Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.90. The company has a market capitalization of $1.82 billion, a PE ratio of -12.35 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). On average, research analysts predict that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Frazier Life Sciences Management L.P. grew its holdings in Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after buying an additional 1,818,181 shares in the last quarter. Parkman Healthcare Partners LLC boosted its position in shares of Edgewise Therapeutics by 37.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock valued at $7,129,000 after acquiring an additional 178,313 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter valued at $6,078,000. Vontobel Holding Ltd. bought a new stake in Edgewise Therapeutics in the fourth quarter worth $3,586,000. Finally, Sectoral Asset Management Inc. purchased a new stake in Edgewise Therapeutics during the fourth quarter valued at $3,586,000.

Analysts Set New Price Targets

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

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.