Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells 2,098 Shares of Stock

Key Points

• John R. Moore, General Counsel of Edgewise Therapeutics, sold 2,098 shares of the company's stock for a total of $28,092.22, reducing his ownership by 17.04%.
• Edgewise Therapeutics reported a loss of ($0.34) earnings per share, surpassing analysts' expectations of ($0.42) for the quarter ending August 7th.
• The company's stock has a consensus rating of "Moderate Buy" with an average target price of $41.60 according to MarketBeat.com.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) General Counsel John R. Moore sold 2,098 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $28,092.22. Following the sale, the general counsel directly owned 10,214 shares of the company's stock, valued at $136,765.46. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX traded up $0.20 during trading hours on Thursday, reaching $13.93. 387,151 shares of the stock were exchanged, compared to its average volume of 632,965. The stock's fifty day simple moving average is $13.93 and its 200 day simple moving average is $17.80. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $38.12. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -8.99 and a beta of 0.26.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Diadema Partners LP bought a new position in shares of Edgewise Therapeutics in the 4th quarter worth about $36,000. GF Fund Management CO. LTD. bought a new stake in Edgewise Therapeutics during the 4th quarter worth approximately $53,000. Jones Financial Companies Lllp bought a new stake in Edgewise Therapeutics during the 1st quarter worth approximately $47,000. Aquatic Capital Management LLC purchased a new position in shares of Edgewise Therapeutics in the 4th quarter worth approximately $77,000. Finally, Allostery Investments LP purchased a new position in shares of Edgewise Therapeutics in the 1st quarter worth approximately $66,000.

Analyst Upgrades and Downgrades

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

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.

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