Kevin Koch Sells 7,972 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Key Points

• Edgewise Therapeutics CEO Kevin Koch sold 7,972 shares of the company at an average price of $13.39, resulting in a 20.66% decrease in his ownership.
• The company reported an EPS of ($0.34) for the last quarter, surpassing analyst expectations of ($0.42).
• Analysts have set a consensus price target of $41.60 for Edgewise Therapeutics, indicating a potential for future growth based on several "buy" ratings.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CEO Kevin Koch sold 7,972 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $106,745.08. Following the sale, the chief executive officer directly owned 30,615 shares of the company's stock, valued at approximately $409,934.85. This trade represents a 20.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Edgewise Therapeutics Trading Down 0.5%

NASDAQ:EWTX traded down $0.07 during trading hours on Monday, hitting $14.09. 174,592 shares of the company were exchanged, compared to its average volume of 1,228,482. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -9.08 and a beta of 0.26. Edgewise Therapeutics, Inc. has a one year low of $10.60 and a one year high of $38.12. The company has a fifty day simple moving average of $13.91 and a 200 day simple moving average of $17.56.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. Equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EWTX. Raymond James Financial initiated coverage on shares of Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 price objective for the company. Wedbush reiterated an "outperform" rating and set a $43.00 price target on shares of Edgewise Therapeutics in a report on Monday, April 21st. Guggenheim began coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 target price for the company. HC Wainwright assumed coverage on Edgewise Therapeutics in a research report on Monday, June 30th. They set a "buy" rating and a $42.00 price objective on the stock. Finally, Royal Bank Of Canada increased their price target on Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $41.60.

Institutional Investors Weigh In On Edgewise Therapeutics

Several large investors have recently modified their holdings of EWTX. Diadema Partners LP bought a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at about $36,000. Canada Pension Plan Investment Board bought a new position in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $45,000. Jones Financial Companies Lllp acquired a new stake in shares of Edgewise Therapeutics during the 1st quarter worth approximately $47,000. GF Fund Management CO. LTD. bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $53,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Edgewise Therapeutics by 28.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company's stock worth $53,000 after acquiring an additional 894 shares in the last quarter.

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.