Joanne Donovan Sells 50,000 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the sale, the chief marketing officer owned 4,367 shares of the company’s stock, valued at approximately $168,435.19. This represents a 91.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Edgewise Therapeutics Trading Up 22.4%

Shares of Edgewise Therapeutics stock traded up $7.05 during trading on Tuesday, hitting $38.50. 3,712,147 shares of the stock traded hands, compared to its average volume of 992,884. The stock’s fifty day simple moving average is $31.11 and its 200 day simple moving average is $26.36. Edgewise Therapeutics, Inc. has a 52-week low of $12.15 and a 52-week high of $39.96. The firm has a market cap of $4.14 billion, a P/E ratio of -23.70 and a beta of 0.25.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, equities analysts expect that Edgewise Therapeutics, Inc. will post -2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on EWTX shares. Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, March 17th. JPMorgan Chase & Co. increased their price target on Edgewise Therapeutics from $34.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. Raymond James Financial set a $46.00 price objective on Edgewise Therapeutics in a report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. Finally, Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.13.

Institutional Trading of Edgewise Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Seven Fleet Capital Management LP bought a new position in Edgewise Therapeutics during the 4th quarter valued at $50,000. Jones Financial Companies Lllp acquired a new stake in shares of Edgewise Therapeutics in the first quarter worth $47,000. Bessemer Group Inc. boosted its position in shares of Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after buying an additional 2,165 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after purchasing an additional 550 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Edgewise Therapeutics during the second quarter valued at $45,000.

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.