Edgewise Therapeutics (NASDAQ:EWTX) CFO Michael Nofi Sells 4,442 Shares of Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) CFO Michael Nofi sold 4,442 shares of Edgewise Therapeutics 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 in the company, valued at $295,067.85. This trade represents a 40.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Edgewise Therapeutics Stock Performance

Shares of EWTX opened at $46.53 on Wednesday. The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 5.68 and a beta of 0.39. The firm has a 50 day moving average price of $41.07 and a 200-day moving average price of $36.72. Edgewise Therapeutics, Inc. has a fifty-two week low of $18.10 and a fifty-two week high of $48.78.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $9.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $10.18. As a group, equities research analysts predict that Edgewise Therapeutics, Inc. will post 6.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

EWTX has been the topic of several recent research reports. Raymond James Financial restated an “underperform” rating and set a $85.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, November 5th. William Blair initiated coverage on Edgewise Therapeutics in a research note on Friday, October 16th. They issued an “outperform” rating on the stock. Wedbush lowered their price objective on Edgewise Therapeutics from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Thursday, November 5th. Wall Street Zen raised Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday, October 4th. Finally, JPMorgan Chase & Co. increased their price objective on Edgewise Therapeutics from $53.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Nine equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $52.83.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently modified their holdings of EWTX. BlackRock Inc. bought a new position in shares of Edgewise Therapeutics during the second quarter valued at about $268,415,000. Jupiter Topco LLC bought a new stake in shares of Edgewise Therapeutics in the second quarter worth about $246,945,000. Janus Henderson Group PLC grew its stake in shares of Edgewise Therapeutics by 29.5% in the first quarter. Janus Henderson Group PLC now owns 5,915,556 shares of the company’s stock worth $186,289,000 after purchasing an additional 1,348,706 shares during the last quarter. Bank of America Corp DE purchased a new position in Edgewise Therapeutics during the 2nd quarter valued at about $63,312,000. Finally, Dimensional Fund Advisors LP increased its holdings in Edgewise Therapeutics by 0.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,219,717 shares of the company’s stock valued at $38,413,000 after purchasing an additional 6,060 shares during the period.

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.