Edgewise Therapeutics (NASDAQ:EWTX) Director Sells $3,399,466.24 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the sale, the director owned 19,820 shares in the company, valued at $583,500.80. This represents a 85.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Edgewise Therapeutics Trading Down 3.2%

Shares of EWTX traded down $0.96 during mid-day trading on Friday, hitting $28.83. 643,707 shares of the company’s stock were exchanged, compared to its average volume of 1,254,556. The firm has a market capitalization of $3.05 billion, a P/E ratio of -18.24 and a beta of 0.27. The business’s 50 day moving average is $24.50 and its two-hundred day moving average is $18.31. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $30.48.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.01. On average, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of EWTX. California State Teachers Retirement System grew its holdings in Edgewise Therapeutics by 2.4% during the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after purchasing an additional 850 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Edgewise Therapeutics by 28.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock worth $53,000 after acquiring an additional 894 shares in the last quarter. HighMark Wealth Management LLC increased its holdings in shares of Edgewise Therapeutics by 2.1% in the third quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock worth $863,000 after acquiring an additional 1,114 shares in the last quarter. Creative Planning raised its position in shares of Edgewise Therapeutics by 6.7% during the third quarter. Creative Planning now owns 18,036 shares of the company’s stock worth $293,000 after purchasing an additional 1,126 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Edgewise Therapeutics by 14.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,148 shares of the company’s stock valued at $120,000 after purchasing an additional 1,188 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday. Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Royal Bank Of Canada boosted their price target on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Wedbush decreased their price objective on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a report on Friday, November 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Edgewise Therapeutics in a research report on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.67.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.