Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Sells $32,487.38 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Behrad Derakhshan sold 1,718 shares of the business’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 $32,487.38. Following the transaction, the insider now directly owns 13,422 shares in the company, valued at $253,810.02. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Behrad Derakhshan also recently made the following trade(s):

• On Thursday, February 8th, Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00.

Edgewise Therapeutics Stock Up 1.2 %

NASDAQ:EWTX opened at $19.52 on Monday. The company has a market cap of $1.82 billion, a PE ratio of -12.35 and a beta of 0.15. The business’s 50 day moving average is $16.90 and its two-hundred day moving average is $12.80. Edgewise Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.90.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). As a group, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Edgewise Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund boosted its holdings in shares of Edgewise Therapeutics by 228.6% in the 3rd quarter. New York State Common Retirement Fund now owns 43,871 shares of the company’s stock valued at $251,000 after buying an additional 30,522 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in Edgewise Therapeutics by 3.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock valued at $670,000 after acquiring an additional 3,900 shares during the period. abrdn plc acquired a new position in Edgewise Therapeutics in the fourth quarter valued at approximately $1,646,000. SG Americas Securities LLC bought a new position in shares of Edgewise Therapeutics during the third quarter valued at approximately $107,000. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after purchasing an additional 5,704 shares during the period.

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.