Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers Sells 2,157 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO R Michael Carruthers sold 2,157 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $40,788.87. Following the sale, the chief financial officer now directly owns 35,230 shares of the company’s stock, valued at approximately $666,199.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $19.52 on Friday. The business’s 50-day simple moving average is $16.90 and its 200 day simple moving average is $12.73. The company has a market cap of $1.82 billion, a P/E ratio of -12.35 and a beta of 0.15. Edgewise Therapeutics, Inc. has a one year low of $5.12 and a one year high of $20.90.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). Analysts predict that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EWTX shares. Royal Bank of Canada lifted their price objective on Edgewise Therapeutics from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, April 22nd. Truist Financial reaffirmed a “buy” rating and set a $25.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Wedbush reiterated an “outperform” rating and set a $26.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Finally, Piper Sandler began coverage on shares of Edgewise Therapeutics in a research note on Thursday, March 7th. They issued an “overweight” rating and a $48.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $31.20.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. increased its holdings in Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after purchasing an additional 1,818,181 shares during the last quarter. Perceptive Advisors LLC acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth approximately $6,078,000. Vontobel Holding Ltd. bought a new stake in shares of Edgewise Therapeutics in the fourth quarter worth $3,586,000. Sectoral Asset Management Inc. acquired a new stake in Edgewise Therapeutics in the fourth quarter valued at $3,586,000. Finally, Parkman Healthcare Partners LLC boosted its stake in Edgewise Therapeutics by 37.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock valued at $7,129,000 after acquiring an additional 178,313 shares during the last quarter.

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.