Joanne Donovan Sells 5,230 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 5,230 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $31.29, for a total value of $163,646.70. Following the completion of the transaction, the chief marketing officer owned 4,367 shares of the company’s stock, valued at $136,643.43. This trade represents a 54.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Edgewise Therapeutics Stock Down 2.7%

EWTX stock opened at $36.99 on Thursday. Edgewise Therapeutics, Inc. has a 52-week low of $12.15 and a 52-week high of $39.96. The stock’s fifty day simple moving average is $31.42 and its 200-day simple moving average is $26.67. The stock has a market capitalization of $3.98 billion, a price-to-earnings ratio of -22.69 and a beta of 0.25.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.04). As a group, analysts anticipate that Edgewise Therapeutics, Inc. will post -2.16 earnings per share for the current fiscal year.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors have recently modified their holdings of the company. Seven Fleet Capital Management LP acquired a new stake in Edgewise Therapeutics during the 4th quarter worth approximately $50,000. Jones Financial Companies Lllp acquired a new position in Edgewise Therapeutics during the first quarter valued at approximately $47,000. Bessemer Group Inc. grew its stake in Edgewise Therapeutics by 1,170.3% during the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after buying an additional 2,165 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after buying an additional 550 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Edgewise Therapeutics in the second quarter worth $45,000.

Analyst Ratings Changes

A number of research analysts have recently commented on EWTX shares. Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th. Evercore reaffirmed an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Wall Street Zen downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, HC Wainwright upgraded shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $39.67.

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.