Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan Sells 3,682 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 3,682 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $69,626.62. Following the completion of the sale, the chief marketing officer now owns 19,897 shares in the company, valued at approximately $376,252.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Edgewise Therapeutics Trading Up 1.2 %

Shares of NASDAQ:EWTX opened at $19.52 on Friday. Edgewise Therapeutics, Inc. has a 12 month low of $5.12 and a 12 month high of $20.90. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -12.35 and a beta of 0.15. The firm’s 50-day moving average is $16.90 and its 200 day moving average is $12.73.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). As a group, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds have recently bought and sold shares of EWTX. Frazier Life Sciences Management L.P. boosted its stake in shares of Edgewise Therapeutics by 214.2% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after purchasing an additional 1,818,181 shares during the period. Perceptive Advisors LLC bought a new position in Edgewise Therapeutics in the fourth quarter worth approximately $6,078,000. Vontobel Holding Ltd. purchased a new position in Edgewise Therapeutics during the 4th quarter worth $3,586,000. Sectoral Asset Management Inc. purchased a new position in Edgewise Therapeutics during the 4th quarter worth $3,586,000. Finally, Parkman Healthcare Partners LLC raised its position in Edgewise Therapeutics by 37.7% during the 4th quarter. Parkman Healthcare Partners LLC now owns 651,625 shares of the company’s stock valued at $7,129,000 after purchasing an additional 178,313 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Piper Sandler started coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 target price on the stock. Wedbush reissued an “outperform” rating and set a $26.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Truist Financial restated a “buy” rating and set a $25.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their target price on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $31.20.

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.