Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch Sells 8,636 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CEO Kevin Koch sold 8,636 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $26.37 on Friday. The company has a 50 day moving average of $28.44 and a 200-day moving average of $26.64. Edgewise Therapeutics, Inc. has a one year low of $14.90 and a one year high of $38.12. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -17.58 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. Equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds have recently modified their holdings of EWTX. Braidwell LP acquired a new position in shares of Edgewise Therapeutics in the third quarter valued at approximately $52,267,000. Janus Henderson Group PLC boosted its stake 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 purchasing an additional 1,951,220 shares during the period. abrdn plc bought a new position in Edgewise Therapeutics during the 3rd quarter worth about $6,850,000. Walleye Capital LLC acquired a new stake in shares of Edgewise Therapeutics in the 3rd quarter valued at about $6,466,000. Finally, Amundi raised its stake in shares of Edgewise Therapeutics by 127.2% in the 4th quarter. Amundi now owns 341,687 shares of the company’s stock valued at $8,686,000 after purchasing an additional 191,267 shares during the period.

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.