Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan Sells 25,000 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total value of $690,750.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,358 shares of the company’s stock, valued at $451,971.54. This represents a 60.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $28.00 on Friday. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -18.67 and a beta of 0.20. Edgewise Therapeutics, Inc. has a one year low of $14.90 and a one year high of $38.12. The company’s 50-day moving average is $28.90 and its 200 day moving average is $26.37.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on EWTX shares. Piper Sandler upped their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Truist Financial upped their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target for the company. Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Evercore ISI raised their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.29.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Braidwell LP purchased a new position in shares of Edgewise Therapeutics in the third quarter worth $52,267,000. Janus Henderson Group PLC increased its holdings in Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after buying an additional 1,951,220 shares in the last quarter. Millennium Management LLC raised its position in Edgewise Therapeutics by 115.2% in the 2nd quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock worth $20,631,000 after buying an additional 613,251 shares during the last quarter. abrdn plc purchased a new position in Edgewise Therapeutics in the 3rd quarter worth about $6,850,000. Finally, Walleye Capital LLC bought a new position in Edgewise Therapeutics during the 3rd quarter valued at about $6,466,000.

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.