Edgewise Therapeutics (NASDAQ:EWTX) Director Sells 115,471 Shares

by · The Cerbat Gem

Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Free Report) Director Badreddin Edris sold 115,471 shares of the business’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the completion of the sale, the director directly owned 19,820 shares in the company, valued at $583,500.80. This represents a 85.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Edgewise Therapeutics Trading Down 3.2%

Shares of EWTX stock traded down $0.96 on Friday, hitting $28.83. 643,707 shares of the stock were exchanged, compared to its average volume of 1,254,556. The business has a 50-day moving average of $24.50 and a 200 day moving average of $18.31. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $30.48. The firm has a market capitalization of $3.05 billion, a P/E ratio of -18.24 and a beta of 0.27.

Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. As a group, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of large investors have recently made changes to their positions in the company. Bessemer Group Inc. boosted its stake in Edgewise Therapeutics by 1,170.3% in the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock valued at $38,000 after purchasing an additional 2,165 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics in the second quarter valued at about $45,000. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics in the 1st quarter worth about $47,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Edgewise Therapeutics by 28.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock valued at $53,000 after purchasing an additional 894 shares during the period. Finally, Strs Ohio acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth approximately $84,000.

Wall Street Analyst Weigh In

EWTX has been the topic of several analyst reports. The Goldman Sachs Group assumed coverage on Edgewise Therapeutics in a report on Thursday, September 25th. They set a “neutral” rating and a $20.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday. Wall Street Zen downgraded Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Royal Bank Of Canada boosted their target price on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Finally, Wedbush decreased their price objective on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $36.67.

View Our Latest Stock Report on EWTX

Edgewise Therapeutics Company Profile

(Get Free Report)

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.

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