Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO Sells $40,788.87 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 2,157 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $40,788.87. Following the completion of the transaction, the chief financial officer now directly owns 35,230 shares of the company’s stock, valued at $666,199.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Edgewise Therapeutics Trading Up 1.2 %

EWTX opened at $19.52 on Monday. The stock has a market capitalization of $1.82 billion, a P/E ratio of -12.35 and a beta of 0.15. The stock has a 50-day moving average price of $16.90 and a 200-day moving average price of $12.80. Edgewise Therapeutics, Inc. has a 12-month low of $5.12 and a 12-month high of $20.90.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). On average, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Truist Financial reissued a “buy” rating and set a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Wedbush reaffirmed an “outperform” rating and issued a $26.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Finally, Piper Sandler assumed coverage on shares of Edgewise Therapeutics in a research report on Thursday, March 7th. They set an “overweight” rating and a $48.00 target price for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $31.20.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of institutional investors have recently made changes to their positions in EWTX. Frazier Life Sciences Management L.P. lifted its stake in Edgewise Therapeutics by 214.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after purchasing an additional 1,818,181 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter worth about $6,078,000. Sectoral Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $3,586,000. Vontobel Holding Ltd. purchased a new stake in Edgewise Therapeutics during the 4th quarter valued at about $3,586,000. Finally, Parkman Healthcare Partners LLC grew its position in Edgewise Therapeutics by 37.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock worth $7,129,000 after acquiring an additional 178,313 shares during the last quarter.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.