Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Sells 3,152 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 3,152 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $59,604.32. Following the sale, the chief executive officer now directly owns 14,478 shares in the company, valued at approximately $273,778.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Edgewise Therapeutics Trading Up 1.2 %

Shares of EWTX traded up $0.23 during mid-day trading on Friday, reaching $19.52. The company had a trading volume of 545,133 shares, compared to its average volume of 906,988. Edgewise Therapeutics, Inc. has a fifty-two week low of $5.12 and a fifty-two week high of $20.90. The firm has a fifty day simple moving average of $16.86 and a 200-day simple moving average of $12.64. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -12.35 and a beta of 0.15.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EWTX. Truist Financial reissued a “buy” rating and set a $25.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their target price on 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 Edgewise Therapeutics in a research report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price target for the company. Finally, Wedbush restated an “outperform” rating and issued a $26.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, April 16th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.20.

Institutional Investors Weigh In On Edgewise Therapeutics

Several institutional investors have recently bought and sold shares of EWTX. Frazier Life Sciences Management L.P. boosted its position in Edgewise Therapeutics by 214.2% during the 4th 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 period. Parkman Healthcare Partners LLC lifted its stake in shares of Edgewise Therapeutics by 37.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock worth $7,129,000 after purchasing an additional 178,313 shares in the last quarter. Perceptive Advisors LLC purchased a new position in Edgewise Therapeutics in the 4th quarter worth approximately $6,078,000. Vontobel Holding Ltd. acquired a new stake in Edgewise Therapeutics in the fourth quarter valued at approximately $3,586,000. Finally, Sectoral Asset Management Inc. purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $3,586,000.

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.