Edgewise Therapeutics (NASDAQ:EWTX) CMO Sells $163,646.70 in Stock

Key Points

• CMO Joanne Donovan sold 5,230 shares at an average of $31.29 for a total of $163,646.70, leaving her with 4,367 shares — a 54.5% reduction in her position, according to the SEC filing.
• Shares rose $7.05 to $38.50 on Tuesday on volume of 3.71 million versus an average of 992,884, giving the company a market cap of $4.14 billion and a 52‑week range of $12.15–$39.96.
• Edgewise missed last quarter's EPS (‑$0.47 vs. consensus ‑$0.43) and maintains a consensus analyst rating of "Moderate Buy" with a $38.13 price target.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CMO Joanne Donovan sold 5,230 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $31.29, for a total value of $163,646.70. Following the transaction, the chief marketing officer directly owned 4,367 shares of the company's stock, valued at approximately $136,643.43. The trade was a 54.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock traded up $7.05 on Tuesday, reaching $38.50. 3,712,147 shares of the company's stock were exchanged, compared to its average volume of 992,884. The company has a market capitalization of $4.14 billion, a P/E ratio of -23.70 and a beta of 0.25. Edgewise Therapeutics, Inc. has a 52 week low of $12.15 and a 52 week high of $39.96. The firm's 50-day moving average is $31.11 and its two-hundred day moving average is $26.36.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.04). On average, analysts expect that Edgewise Therapeutics, Inc. will post -2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EWTX has been the subject of several research analyst reports. Piper Sandler reiterated an "overweight" rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Raymond James Financial set a $46.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, March 10th. Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Wall Street Zen downgraded shares of Edgewise Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Finally, HC Wainwright raised shares of Edgewise Therapeutics to a "strong-buy" rating in a research report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $38.13.

Institutional Trading of Edgewise Therapeutics

Hedge funds have recently bought and sold shares of the stock. Aberdeen Group plc lifted its stake in Edgewise Therapeutics by 39.8% in the 3rd quarter. Aberdeen Group plc now owns 619,878 shares of the company's stock worth $10,054,000 after purchasing an additional 176,559 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Edgewise Therapeutics by 797.9% in the 4th quarter. SG Americas Securities LLC now owns 88,723 shares of the company's stock worth $2,202,000 after buying an additional 78,842 shares during the last quarter. HighVista Strategies LLC grew its holdings in Edgewise Therapeutics by 198.5% during the 3rd quarter. HighVista Strategies LLC now owns 208,101 shares of the company's stock valued at $3,375,000 after purchasing an additional 138,378 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in Edgewise Therapeutics during the 3rd quarter valued at about $929,000. Finally, GSA Capital Partners LLP boosted its position in Edgewise Therapeutics by 315.2% in the 3rd quarter. GSA Capital Partners LLP now owns 113,243 shares of the company's stock valued at $1,837,000 after buying an additional 85,967 shares during the period.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc NASDAQ: EWTX is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise's pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.

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