Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch Sells 4,276 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 4,276 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $70,340.20. Following the sale, the chief executive officer now directly owns 20,619 shares of the company’s stock, valued at approximately $339,182.55. The trade was a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $14.51 on Thursday. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $38.12. The stock has a market capitalization of $1.52 billion, a P/E ratio of -9.67 and a beta of 0.36. The company’s 50-day moving average is $18.67 and its 200 day moving average is $25.90.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on EWTX. Scotiabank lowered Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Guggenheim initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 target price for the company. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target on the stock. Royal Bank of Canada cut their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $43.00 price target on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently added to or reduced their stakes in the business. Diadema Partners LP bought a new stake in Edgewise Therapeutics during the fourth quarter valued at about $36,000. GF Fund Management CO. LTD. purchased a new stake in Edgewise Therapeutics in the 4th quarter worth approximately $53,000. Aquatic Capital Management LLC purchased a new stake in Edgewise Therapeutics in the 4th quarter worth approximately $77,000. Tower Research Capital LLC TRC lifted its holdings in Edgewise Therapeutics by 1,097.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company’s stock valued at $98,000 after purchasing an additional 3,369 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Edgewise Therapeutics in the fourth quarter worth approximately $103,000.

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.