Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Free Report) CFO Michael Nofi sold 4,442 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $45.43, for a total transaction of $201,800.06. Following the transaction, the chief financial officer directly owned 6,495 shares of the company’s stock, valued at $295,067.85. This trade represents a 40.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Edgewise Therapeutics Stock Up 2.2%
NASDAQ:EWTX opened at $47.57 on Thursday. The company has a market cap of $5.21 billion, a P/E ratio of 5.81 and a beta of 0.39. The firm’s 50 day moving average is $41.18 and its two-hundred day moving average is $36.81. Edgewise Therapeutics, Inc. has a fifty-two week low of $19.76 and a fifty-two week high of $48.78.
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $9.65 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.53) by $10.18. Research analysts forecast that Edgewise Therapeutics, Inc. will post 6.92 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Edgewise Therapeutics
A number of hedge funds have recently made changes to their positions in EWTX. Parallel Advisors LLC lifted its holdings in shares of Edgewise Therapeutics by 64.9% during the 1st quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock valued at $33,000 after acquiring an additional 406 shares in the last quarter. GAMMA Investing LLC boosted its position in Edgewise Therapeutics by 26.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,666 shares of the company’s stock worth $108,000 after purchasing an additional 559 shares during the period. AlphaCentric Advisors LLC boosted its position in Edgewise Therapeutics by 4.6% during the 3rd quarter. AlphaCentric Advisors LLC now owns 16,572 shares of the company’s stock worth $673,000 after purchasing an additional 732 shares during the period. KBC Group NV acquired a new stake in Edgewise Therapeutics in the 1st quarter valued at $49,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Edgewise Therapeutics by 10.0% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 20,216 shares of the company’s stock valued at $792,000 after purchasing an additional 1,843 shares in the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on Edgewise Therapeutics from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Tuesday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Thursday, October 15th. Wall Street Zen upgraded Edgewise Therapeutics from a “sell” rating to a “hold” rating in a report on Sunday, October 4th. Evercore reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. boosted their target price on Edgewise Therapeutics from $53.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Nine research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Edgewise Therapeutics has an average rating of “Moderate Buy” and an average target price of $52.83.
View Our Latest Analysis on EWTX
About Edgewise Therapeutics
Edgewise Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for serious muscle disorders. Founded in 2017 and based in Boulder, Colorado, the company researches small-molecule treatments designed to address the underlying biology of muscle and cardiac conditions. Its programs include sevasemten, an investigational therapy for Duchenne and Becker muscular dystrophies, and EDG-7500, an investigational treatment being developed for hypertrophic cardiomyopathy.
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