Joanne Donovan Sells 28,662 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 28,662 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $32.31, for a total value of $926,069.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Edgewise Therapeutics Price Performance

EWTX traded down $0.26 on Thursday, reaching $32.88. 547,804 shares of the stock were exchanged, compared to its average volume of 968,245. The company’s 50-day moving average price is $29.76 and its 200 day moving average price is $23.73. The firm has a market capitalization of $3.53 billion, a PE ratio of -20.20 and a beta of 0.24. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $33.56.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on EWTX. Raymond James Financial set a $46.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, March 10th. HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Stifel Nicolaus set a $25.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, March 17th. Finally, Evercore reiterated an “outperform” rating and set a $45.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.44.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of institutional investors have recently modified their holdings of EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Edgewise Therapeutics by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after purchasing an additional 2,463 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics in the 1st quarter worth about $47,000. Goldman Sachs Group Inc. increased its stake in Edgewise Therapeutics by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after buying an additional 19,753 shares in the last quarter. Strs Ohio purchased a new stake in Edgewise Therapeutics during the 1st quarter worth approximately $84,000. Finally, Creative Planning raised its stake in Edgewise Therapeutics by 29.4% in the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock valued at $222,000 after purchasing an additional 3,837 shares during the last quarter.

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.