Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO Sells 2,157 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 2,157 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $40,788.87. Following the sale, the chief financial officer now owns 35,230 shares of the company’s stock, valued at approximately $666,199.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $19.52 on Friday. Edgewise Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.90. The firm has a market capitalization of $1.82 billion, a PE ratio of -12.35 and a beta of 0.15. The company’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $12.73.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.03). Analysts predict that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

Large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted 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 buying an additional 5,704 shares during the period. AJOVista LLC acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter worth about $84,000. Pale Fire Capital SE acquired a new stake in shares of Edgewise Therapeutics during the third quarter worth approximately $90,000. Corton Capital Inc. bought a new position in Edgewise Therapeutics in the 3rd quarter valued at $98,000. Finally, SG Americas Securities LLC bought a new position in shares of Edgewise Therapeutics in the third quarter valued at about $107,000.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EWTX shares. 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. Royal Bank of Canada boosted their price objective 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. Truist Financial reiterated a “buy” rating and issued a $25.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Finally, 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. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price 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.