Insider Selling: Edgewise Therapeutics, Inc. (NASDAQ:EWTX) General Counsel Sells 9,232 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Rating) General Counsel John R. Moore sold 9,232 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $9.31, for a total value of $85,949.92. Following the completion of the transaction, the general counsel now directly owns 3,000 shares in the company, valued at $27,930. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Edgewise Therapeutics Stock Up 5.1 %

Shares of EWTX traded up $0.52 during trading hours on Friday, reaching $10.67. The stock had a trading volume of 212,725 shares, compared to its average volume of 302,693. Edgewise Therapeutics, Inc. has a 52 week low of $5.41 and a 52 week high of $22.98. The firm has a 50-day moving average of $8.20 and a 200 day moving average of $9.56. The company has a market cap of $528.98 million, a P/E ratio of -10.28 and a beta of -0.19.

Edgewise Therapeutics (NASDAQ:EWTX – Get Rating) last released its quarterly earnings data on Wednesday, May 11th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). As a group, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.49 earnings per share for the current year.

Hedge Funds Weigh In On Edgewise Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new position in Edgewise Therapeutics in the 1st quarter worth $61,000. SG Americas Securities LLC acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth about $90,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth about $96,000. Sfmg LLC acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $98,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $125,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EWTX. The Goldman Sachs Group reduced their target price on Edgewise Therapeutics from $8.00 to $5.00 and set a “neutral” rating on the stock in a report on Tuesday, May 24th. SVB Leerink restated an “outperform” rating on shares of Edgewise Therapeutics in a research report on Monday, April 25th. Finally, Royal Bank of Canada initiated coverage on shares of Edgewise Therapeutics in a research report on Wednesday, April 13th. They set an “outperform” rating and a $31.00 target price for the company.

Edgewise Therapeutics Company Profile

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Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. The Company's lead product candidate, EDG-5506, is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy which has completed Phase 1 clinical trial.