Edgewise Therapeutics (NASDAQ:EWTX) CMO Sells $163,646.70 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 5,230 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $31.29, for a total transaction of $163,646.70. Following the completion of the transaction, the chief marketing officer directly owned 4,367 shares in the company, valued at $136,643.43. This trade represents a 54.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Edgewise Therapeutics Price Performance

EWTX opened at $35.58 on Friday. The company’s 50 day simple moving average is $31.52 and its two-hundred day simple moving average is $26.82. Edgewise Therapeutics, Inc. has a 1-year low of $12.15 and a 1-year high of $39.96. The firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of -21.83 and a beta of 0.25.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.04. On average, equities analysts anticipate that Edgewise Therapeutics, Inc. will post -2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EWTX has been the topic of several analyst reports. Wall Street Zen lowered shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Monday, April 20th. Evercore reaffirmed an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, March 17th. Finally, Raymond James Financial set a $46.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $39.67.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in Edgewise Therapeutics by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,219,717 shares of the company’s stock valued at $38,413,000 after purchasing an additional 6,060 shares during the period. Parallel Advisors LLC raised its position in Edgewise Therapeutics by 64.9% in the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after purchasing an additional 406 shares during the period. AlphaCentric Advisors LLC raised its position in Edgewise Therapeutics by 6.2% in the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock valued at $492,000 after purchasing an additional 912 shares during the period. KBC Group NV purchased a new stake in Edgewise Therapeutics in the first quarter valued at approximately $49,000. Finally, SEB Asset Management AB purchased a new stake in Edgewise Therapeutics in the first quarter valued at approximately $6,505,000.

Edgewise Therapeutics Company Profile

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.