Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells $59,604.32 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 3,152 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 $59,604.32. Following the completion of the sale, the chief executive officer now directly owns 14,478 shares in the company, valued at $273,778.98. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.23 during midday trading on Friday, reaching $19.52. 545,133 shares of the company traded hands, compared to its average volume of 906,988. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.90. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -12.35 and a beta of 0.15. The business has a 50 day moving average of $16.86 and a two-hundred day moving average of $12.64.

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

Hedge Funds Weigh In On Edgewise Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. raised its position in Edgewise Therapeutics by 349.1% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after acquiring an additional 5,704 shares during the period. AJOVista LLC bought a new position in Edgewise Therapeutics in the 4th quarter worth $84,000. Pale Fire Capital SE purchased a new position in Edgewise Therapeutics during the third quarter valued at $90,000. Corton Capital Inc. bought a new stake in Edgewise Therapeutics during the third quarter valued at about $98,000. Finally, SG Americas Securities LLC purchased a new stake in Edgewise Therapeutics in the third quarter worth about $107,000.

Wall Street Analyst Weigh In

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

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.