Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Free Report) CMO Joanne Donovan sold 2,919 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $43.41, for a total transaction of $126,713.79. Following the transaction, the chief marketing officer directly owned 8,625 shares of the company’s stock, valued at $374,411.25. The trade was a 25.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Edgewise Therapeutics Trading Up 2.3%
Shares of EWTX stock opened at $44.17 on Friday. Edgewise Therapeutics, Inc. has a 12-month low of $13.52 and a 12-month high of $48.40. The firm’s 50 day moving average is $40.12 and its 200 day moving average is $34.62. The stock has a market capitalization of $4.80 billion, a P/E ratio of -23.88 and a beta of 0.30.
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). As a group, equities analysts predict that Edgewise Therapeutics, Inc. will post -2.09 earnings per share for the current year.
Hedge Funds Weigh In On Edgewise Therapeutics
Key Edgewise Therapeutics News
Here are the key news stories impacting Edgewise Therapeutics this week:
- Neutral Sentiment: The sales were made to cover tax-withholding obligations associated with the vesting of equity awards, rather than representing stated concerns about the company’s outlook. Insiders continued to hold shares after the transactions, which reduces the negative significance of the filings. CEO SEC filing General counsel SEC filing Insider SEC filing CMO SEC filing
- Negative Sentiment: The number of transactions and the reductions in individual holdings—ranging from roughly 16% to 36%—could create modest sentiment pressure because multiple executives sold shares while EWTX was trading at elevated levels. However, the tax-related purpose makes these filings a limited signal of insider sentiment.
Wall Street Analysts Forecast Growth
Several analysts recently commented on the company. The Goldman Sachs Group lifted their price objective on Edgewise Therapeutics from $32.00 to $36.00 and gave the stock a “neutral” rating in a report on Tuesday. Royal Bank Of Canada raised their target price on Edgewise Therapeutics from $48.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Oppenheimer assumed coverage on Edgewise Therapeutics in a research note on Thursday, July 9th. They set an “outperform” rating and a $51.00 price target for the company. Guggenheim upped their price target on shares of Edgewise Therapeutics from $41.00 to $51.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Truist Financial set a $52.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.
Check Out Our Latest Stock Report on Edgewise Therapeutics
About Edgewise Therapeutics
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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