Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Insider Behrad Derakhshan Sells 1,718 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) insider Behrad Derakhshan sold 1,718 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $32,487.38. Following the completion of the transaction, the insider now owns 13,422 shares in the company, valued at $253,810.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Behrad Derakhshan also recently made the following trade(s):

• On Thursday, February 8th, Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $19.52 on Friday. The business’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $12.73. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -12.35 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $20.90.

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Quantum Private Wealth LLC grew its position in shares of Edgewise Therapeutics by 2.4% during the 4th quarter. Quantum Private Wealth LLC now owns 63,219 shares of the company’s stock worth $692,000 after buying an additional 1,500 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in Edgewise Therapeutics by 3.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock valued at $670,000 after acquiring an additional 3,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Edgewise Therapeutics by 29.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,833 shares of the company’s stock worth $228,000 after acquiring an additional 4,785 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after acquiring an additional 5,704 shares during the period. Finally, AJOVista LLC bought a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at $84,000.

Edgewise Therapeutics Company Profile

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.