The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Edgewise Therapeutics Inc. shares valued at $226,695 were sold by MOORE JOHN R on Jun 21. At $7.29 per share, MOORE JOHN R sold 31,078 shares. The insider’s holdings dropped to 3,000 shares worth approximately $22980.0 following the completion of this transaction.
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Also, MOORE JOHN R sold 22,127 shares, netting a total of over 146,434 in proceeds. Following the sale of shares at $6.62 each, the insider now holds 3,000 shares.
Before that, MOORE JOHN R had sold 14,722 shares from its account. In a trade valued at $90,805, the General Counsel traded Edgewise Therapeutics Inc. shares for $6.17 each. Upon closing the transaction, the insider’s holdings decreased to 14,722 shares, worth approximately $22980.0.
As published in their initiating research note from RBC Capital Mkts on April 13, 2022, Edgewise Therapeutics Inc. [EWTX] has been an Outperform and the price target has been revised to $31. This represents a 75.29% premium over Wednesday’s closing price. Analysts at Goldman started covering the stock with ‘”a Neutral”‘ outlook in a report released in late January.
Analyzing EWTX’s Price Performance
On Wednesday, Edgewise Therapeutics Inc. [NASDAQ: EWTX] rose 3.51% to $7.66. The stock’s lowest price that day was $7.28, but it reached a high of $7.89 in the same session. During the last five days, there has been a surge of approximately 28.09%. Over the course of the year, Edgewise Therapeutics Inc. shares have dropped approximately -49.87%. Shares of the company reached a 52-week high of $20.71 on 01/05/22 and a 52-week low of $5.41 on 05/25/22. A 50-day SMA is recorded $7.25, while a 200-day SMA reached $13.39. Nevertheless, trading volume fell to 0.22 million shares from 0.33 million shares the previous day.
Support And Resistance Levels for Edgewise Therapeutics Inc. (EWTX)
According to the 24-hour chart, there is a support level at 7.33, which, if violated, would cause prices to drop to 7.00. In the upper region, resistance lies at 7.94. The next price resistance is at 8.22. RSI (Relative Strength Index) is 61.82 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.82, which suggests the price will decrease in the coming days. Percent R is at 9.35%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Which companies own the most shares of Edgewise Therapeutics Inc. (EWTX)?
According to Cormorant Asset Management LP filings, the company currently owns 4,682,874 shares, which is about 9.45% of the total EWTX shares outstanding. The investor’s shares have appreciated by 1,116,973 from its previous 13-F filing of 3565901.0 shares. With the completion of the sale, Deerfield Management Company LP’s stake is now worth $24,582,106. Viking Global Investors LP reduced a 0.00% interest valued at $17.05 million while Citadel Advisors LLC purchased a 181,359 stake. A total of 0 shares of Edgewise Therapeutics Inc. were bought by RA Capital Management LP during the quarter, and 21,351 were bought by Fidelity Management & Research Co. In its current portfolio, Ecor1 Capital LLC holds 2,359,808 shares valued at $14.75 million.
In terms of Edgewise Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $25.00 in the next 12 months, up nearly 305.41% from the previous closing price of $7.40. Analysts anticipate Edgewise Therapeutics Inc. stock to reach $31.00 by 2022, with the lowest price target being $5.00. In spite of this, 5 analysts ranked Edgewise Therapeutics Inc. stock as a Buy at the end of 2022.