Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch Sells 8,636 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total transaction of $259,339.08. Following the sale, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Edgewise Therapeutics Stock Down 8.1 %

Shares of Edgewise Therapeutics stock opened at $26.37 on Friday. The business has a fifty day simple moving average of $28.44 and a 200-day simple moving average of $26.64. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of -17.58 and a beta of 0.20. Edgewise Therapeutics, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. Analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in Edgewise Therapeutics by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after buying an additional 604 shares during the period. Meeder Asset Management Inc. grew its stake in Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after acquiring an additional 1,361 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $161,000. US Bancorp DE lifted its position in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock worth $228,000 after purchasing an additional 8,468 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Edgewise Therapeutics by 418.7% during the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock worth $241,000 after purchasing an additional 7,293 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EWTX. Truist Financial raised their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler raised their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Evercore ISI boosted their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus began coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price for the company. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.29.

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.