Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Sells $38,322.18 in Stock

Key Points

• Edgewise Therapeutics CMO Joanne M. Donovan sold 2,862 shares for a total of $38,322.18, reducing her stock position by 10.14%.
• The company's stock price reached $13.93, with a market cap of $1.47 billion and a 52-week range between $10.60 and $38.12.
• Analyst ratings for Edgewise Therapeutics are predominantly positive, with a consensus rating of "Moderate Buy" and an average target price of $41.60.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CMO Joanne M. Donovan sold 2,862 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $38,322.18. Following the completion of the sale, the chief marketing officer directly owned 25,361 shares of the company's stock, valued at approximately $339,583.79. This trade represents a 10.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX traded up $0.20 during trading on Thursday, reaching $13.93. The company 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 PE ratio of -8.99 and a beta of 0.26. The business's 50 day moving average price is $13.93 and its 200-day moving average price is $17.80. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.08. Equities analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Point72 Asset Management L.P. acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at $2,845,000. First Light Asset Management LLC bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at about $20,843,000. Russell Investments Group Ltd. purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth about $883,000. GAMMA Investing LLC grew its holdings in shares of Edgewise Therapeutics by 2,243.2% in the first quarter. GAMMA Investing LLC now owns 30,954 shares of the company's stock worth $681,000 after purchasing an additional 29,633 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new position in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $2,150,000.

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.

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