Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore Sells 20,922 Shares

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the sale, the general counsel now directly owns 3,252 shares of the company’s stock, valued at $89,852.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $25.92 on Wednesday. The firm has a market capitalization of $2.42 billion, a P/E ratio of -16.72 and a beta of 0.15. Edgewise Therapeutics, Inc. has a 52 week low of $5.12 and a 52 week high of $30.00. The stock has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $18.26.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.02. On average, equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EWTX has been the subject of several research reports. Wedbush restated an “outperform” rating and issued a $31.00 target price on shares of Edgewise Therapeutics in a research note on Friday, August 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Piper Sandler restated an “overweight” rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a report on Monday, July 1st. JPMorgan Chase & Co. increased their target price on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Truist Financial lifted their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Buy” and an average price target of $35.00.

Institutional Trading of Edgewise Therapeutics

Several institutional investors have recently made changes to their positions in EWTX. RA Capital Management L.P. purchased a new stake in shares of Edgewise Therapeutics during the 1st quarter valued at $162,502,000. Novo Holdings A S purchased a new position in Edgewise Therapeutics in the second quarter valued at about $114,263,000. Baker BROS. Advisors LP grew its position in shares of Edgewise Therapeutics by 87.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after acquiring an additional 2,727,273 shares during the period. Vanguard Group Inc. grew its position in shares of Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after acquiring an additional 1,892,053 shares during the period. Finally, Frazier Life Sciences Management L.P. increased its stake in shares of Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after purchasing an additional 1,818,181 shares during the last quarter.

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.