Joanne Donovan Sells 2,919 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Key Points

• Edgewise Therapeutics CMO Joanne Donovan sold 2,919 shares at an average price of $43.41, generating $126,713.79. The sale covered tax withholding obligations, leaving her with 8,625 shares.
• EWTX shares rose 2.3% to $44.17, giving the company a market capitalization of approximately $4.8 billion. The stock trades below its 52-week high of $48.40 but well above its $13.52 low.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $49.08 target price, despite the company missing quarterly EPS estimates by $0.06.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) CMO Joanne Donovan sold 2,919 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $43.41, for a total transaction of $126,713.79. Following the completion of the sale, the chief marketing officer directly owned 8,625 shares in the company, valued at approximately $374,411.25. The trade was a 25.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Edgewise Therapeutics Stock Up 2.3%

EWTX traded up $0.99 during midday trading on Friday, reaching $44.17. 779,900 shares of the company's stock were exchanged, compared to its average volume of 1,187,702. The business has a 50-day simple moving average of $39.95 and a two-hundred day simple moving average of $34.55. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of -23.88 and a beta of 0.30. Edgewise Therapeutics, Inc. has a one year low of $13.52 and a one year high of $48.40.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.47) by ($0.06). As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -2.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EWTX has been the topic of several recent analyst reports. HC Wainwright restated a "buy" rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, June 16th. Guggenheim increased their target price on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Oppenheimer began coverage on shares of Edgewise Therapeutics in a report on Thursday, July 9th. They set an "outperform" rating and a $51.00 price target for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Edgewise Therapeutics in a research report on Friday, July 17th. Finally, Truist Financial set a $52.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Edgewise Therapeutics has a consensus rating of "Moderate Buy" and a consensus target price of $49.08.

Hedge Funds Weigh In On Edgewise Therapeutics

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its stake in shares of Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company's stock valued at $33,000 after purchasing an additional 406 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in Edgewise Therapeutics during the 2nd quarter worth $45,000. Jones Financial Companies Lllp acquired a new position in Edgewise Therapeutics during the 1st quarter worth $47,000. KBC Group NV bought a new position in Edgewise Therapeutics in the 1st quarter valued at $49,000. Finally, Seven Fleet Capital Management LP acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $50,000.

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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