Joanne M. Donovan Sells 25,000 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CMO Joanne M. Donovan sold 25,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total transaction of $690,750.00. Following the transaction, the chief marketing officer now owns 16,358 shares of the company’s stock, valued at $451,971.54. The trade was a 60.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Edgewise Therapeutics Stock Down 1.5 %

Shares of NASDAQ EWTX traded down $0.42 during trading on Thursday, reaching $28.00. 715,135 shares of the company traded hands, compared to its average volume of 948,871. The firm has a 50 day simple moving average of $28.98 and a 200-day simple moving average of $26.35. Edgewise Therapeutics, Inc. has a 52-week low of $14.90 and a 52-week high of $38.12. The stock has a market capitalization of $2.65 billion, a PE ratio of -18.67 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on EWTX shares. Truist Financial boosted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Evercore ISI increased their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Piper Sandler lifted their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wedbush increased their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $41.29.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in Edgewise Therapeutics by 1.5% in the fourth quarter. Rhumbline Advisers now owns 102,397 shares of the company’s stock valued at $2,734,000 after acquiring an additional 1,525 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of Edgewise Therapeutics by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock valued at $536,000 after purchasing an additional 2,042 shares during the last quarter. Moody Aldrich Partners LLC lifted its stake in shares of Edgewise Therapeutics by 24.3% in the 4th quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company’s stock worth $5,018,000 after purchasing an additional 36,775 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Edgewise Therapeutics by 146.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock worth $4,231,000 after purchasing an additional 94,147 shares during the period. Finally, Exome Asset Management LLC purchased a new position in shares of Edgewise Therapeutics in the third quarter worth approximately $1,599,000.

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.