Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Behrad Derakhshan Sells 1,718 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Behrad Derakhshan sold 1,718 shares of the business’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 $32,487.38. Following the completion of the sale, the insider now directly owns 13,422 shares of the company’s stock, valued at $253,810.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Behrad Derakhshan also recently made the following trade(s):

• On Thursday, February 8th, Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock. The stock was sold at an average price of $20.01, for a total value of $92,046.00.

Edgewise Therapeutics Trading Up 1.2 %

Shares of Edgewise Therapeutics stock traded up $0.23 on Friday, reaching $19.52. 545,133 shares of the stock were exchanged, compared to its average volume of 906,988. The business has a fifty day moving average price of $16.86 and a two-hundred day moving average price of $12.64. Edgewise Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.90. The firm has a market capitalization of $1.82 billion, a PE ratio of -12.35 and a beta of 0.15.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). Research analysts expect that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

Several large investors have recently added to or reduced their stakes in EWTX. China Universal Asset Management Co. Ltd. grew its stake in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after buying an additional 5,704 shares during the period. AJOVista LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter valued at $84,000. Pale Fire Capital SE purchased a new stake in Edgewise Therapeutics during the 3rd quarter worth $90,000. Corton Capital Inc. acquired a new position in Edgewise Therapeutics in the 3rd quarter worth $98,000. Finally, SG Americas Securities LLC purchased a new position in Edgewise Therapeutics in the 3rd quarter valued at about $107,000.

Analyst Ratings Changes

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

About Edgewise Therapeutics

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.