Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers Sells 1,428 Shares

Key Points

• R Michael Carruthers, CFO of Edgewise Therapeutics, sold 1,428 shares at an average price of $13.39, resulting in a 1.63% decrease in his ownership of the stock.
• Edgewise Therapeutics' shares recently traded at $13.93, showing a slight increase, with a market cap of $1.47 billion and a PE ratio of -8.99.
• Analysts maintain a consensus rating of “Moderate Buy” for Edgewise Therapeutics, with an average price target of $41.60.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CFO R Michael Carruthers sold 1,428 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 $19,120.92. Following the sale, the chief financial officer owned 86,162 shares in the company, valued at $1,153,709.18. The trade was a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Edgewise Therapeutics Trading Up 1.5%

Shares of Edgewise Therapeutics stock traded up $0.20 on Thursday, hitting $13.93. The stock had a trading volume of 387,151 shares, compared to its average volume of 632,965. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -8.99 and a beta of 0.26. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12. The company's 50 day moving average price is $13.93 and its 200 day moving average price is $17.80.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Guggenheim assumed coverage on Edgewise Therapeutics in a research report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. HC Wainwright started coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $42.00 target price on the stock. Royal Bank Of Canada increased their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Raymond James Financial started coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 target price on the stock. Finally, Wedbush reissued an "outperform" rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Two research 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 stock. Based on data from MarketBeat.com, Edgewise Therapeutics currently 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 made changes to their positions in the company. Diadema Partners LP bought a new stake in Edgewise Therapeutics during the 4th quarter valued at approximately $36,000. GF Fund Management CO. LTD. bought a new position in shares of Edgewise Therapeutics during the 4th quarter worth about $53,000. Jones Financial Companies Lllp bought a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $47,000. Aquatic Capital Management LLC bought a new position in shares of Edgewise Therapeutics during the 4th quarter worth about $77,000. Finally, Allostery Investments LP bought a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $66,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.