Edgewise Therapeutics (NASDAQ:EWTX) CMO Sells $1,928,500.00 in Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne Donovan sold 50,000 shares of Edgewise Therapeutics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the completion of the transaction, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. This trade represents a 91.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Edgewise Therapeutics Stock Down 3.8%

Shares of EWTX opened at $35.58 on Friday. The firm has a market cap of $3.82 billion, a PE ratio of -21.83 and a beta of 0.25. The company’s fifty day moving average is $31.52 and its two-hundred day moving average is $26.82. Edgewise Therapeutics, Inc. has a fifty-two week low of $12.15 and a fifty-two week high of $39.96.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. As a group, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -2.16 earnings per share for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after buying an additional 406 shares during the period. Bessemer Group Inc. increased its stake in Edgewise Therapeutics by 1,170.3% during the 3rd 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. Canada Pension Plan Investment Board purchased a new stake in Edgewise Therapeutics during the 2nd quarter worth $45,000. Jones Financial Companies Lllp purchased a new stake in Edgewise Therapeutics during the 1st quarter worth $47,000. Finally, KBC Group NV purchased a new stake in Edgewise Therapeutics during the 1st quarter worth $49,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James Financial set a $46.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, March 10th. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a research note on Monday, February 9th. Wall Street Zen downgraded shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Monday, April 20th. Finally, HC Wainwright raised shares of Edgewise Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.67.

Edgewise Therapeutics Company Profile

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.