Edgewise Therapeutics (NASDAQ:EWTX) CMO Sells $926,069.22 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 28,662 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total value of $926,069.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX opened at $33.33 on Friday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of -20.45 and a beta of 0.24. The stock has a 50-day moving average of $29.93 and a 200 day moving average of $24.00. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $33.56.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Equities analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. Evercore reiterated an “outperform” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Wall Street Zen cut shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Raymond James Financial set a $46.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $38.44.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP purchased a new position in Edgewise Therapeutics in the 4th quarter valued at $50,000. Invesco Ltd. grew its holdings in shares of Edgewise Therapeutics by 14.2% during the fourth quarter. Invesco Ltd. now owns 75,438 shares of the company’s stock worth $1,872,000 after buying an additional 9,382 shares in the last quarter. Oracle Investment Management Inc. acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at about $951,000. KVP Capital Advisors LP acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at about $3,300,000. Finally, XTX Topco Ltd purchased a new position in shares of Edgewise Therapeutics in the fourth quarter worth about $1,380,000.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.