Joanne M. Donovan Sells 25,000 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) 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 transaction of $690,750.00. Following the completion of the transaction, the chief marketing officer now owns 16,358 shares in the company, valued at $451,971.54. This trade represents a 60.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $28.00 on Friday. The stock has a fifty day simple moving average of $28.90 and a two-hundred day simple moving average of $26.37. The firm has a market capitalization of $2.65 billion, a PE ratio of -18.67 and a beta of 0.20. Edgewise Therapeutics, Inc. has a 52-week low of $14.90 and a 52-week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after buying an additional 604 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after purchasing an additional 1,361 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Edgewise Therapeutics by 1.5% during the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company’s stock valued at $2,734,000 after purchasing an additional 1,525 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Edgewise Therapeutics by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock valued at $536,000 after purchasing an additional 2,042 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Edgewise Therapeutics by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock worth $2,250,000 after purchasing an additional 4,426 shares during the last quarter.

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.