John Moore Sells 5,016 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John Moore sold 5,016 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $43.82, for a total transaction of $219,801.12. Following the transaction, the general counsel owned 17,697 shares in the company, valued at approximately $775,482.54. This trade represents a 22.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 Trading Up 2.3%

EWTX stock traded up $0.99 on Friday, hitting $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 two-hundred day moving average of $34.55. Edgewise Therapeutics, Inc. has a 1 year low of $13.52 and a 1 year high of $48.40. The stock has a market cap of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data 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). As a group, equities analysts forecast that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Institutional Investors Weigh In On Edgewise Therapeutics

Several institutional investors have recently modified their holdings of EWTX. Parallel Advisors LLC grew its holdings in shares of Edgewise Therapeutics by 64.9% in the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after acquiring an additional 406 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth about $45,000. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics in the 1st quarter valued at about $47,000. KBC Group NV acquired a new stake in Edgewise Therapeutics in the 1st quarter valued at about $49,000. Finally, Seven Fleet Capital Management LP purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at about $50,000.

Analyst Upgrades and Downgrades

EWTX has been the subject of several analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Raymond James Financial reissued a “strong-buy” rating and issued a $66.00 target price on shares of Edgewise Therapeutics in a report on Monday, June 1st. Oppenheimer assumed coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They set an “outperform” rating and a $51.00 price target for the company. Leerink Partners set a $52.00 price target on Edgewise Therapeutics in a report on Tuesday, June 16th. Finally, Royal Bank Of Canada boosted their price objective on shares of Edgewise Therapeutics from $48.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.