Joanne Donovan Sells 6,522 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 6,522 shares of the firm’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $43.85, for a total value of $285,989.70. Following the transaction, the chief marketing officer directly owned 11,544 shares of the company’s stock, valued at $506,204.40. This represents a 36.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Edgewise Therapeutics Stock Up 2.3%

Shares of NASDAQ:EWTX traded up $0.99 during midday trading on Friday, reaching $44.17. The company’s stock had a trading volume of 779,899 shares, compared to its average volume of 1,187,702. The firm has a 50 day moving average of $39.95 and a 200-day moving average of $34.55. The firm has a market capitalization of $4.80 billion, a P/E ratio of -23.88 and a beta of 0.30. Edgewise Therapeutics, Inc. has a 12-month low of $13.52 and a 12-month high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.06). On average, research analysts predict that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Edgewise Therapeutics by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after buying an additional 2,463 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in Edgewise Therapeutics in the first quarter worth approximately $47,000. Goldman Sachs Group Inc. grew its holdings in shares of Edgewise Therapeutics by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after acquiring an additional 19,753 shares during the period. Strs Ohio bought a new stake in shares of Edgewise Therapeutics during the 1st quarter valued at about $84,000. Finally, Creative Planning increased its holdings in Edgewise Therapeutics by 29.4% during the second quarter. Creative Planning now owns 16,910 shares of the company’s stock valued at $222,000 after buying an additional 3,837 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EWTX shares. Guggenheim raised their target price on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Evercore reissued an “outperform” rating and issued a $55.00 price target on shares of Edgewise Therapeutics in a research report on Monday, July 20th. Truist Financial set a $52.00 price target on Edgewise Therapeutics in a research note on Wednesday, May 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $66.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $49.08.

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.