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 $69,627 were sold by Donovan Joanne M. on May 02 ’24. At $18.91 per share, Donovan Joanne M. sold 3,682 shares. The insider’s holdings dropped to 19,897 shares worth approximately $0.42 million following the completion of this transaction.
Also, KOCH KEVIN sold 3,152 shares, netting a total of over 59,604 in proceeds. Following the sale of shares at $18.91 each, the insider now holds 14,478 shares.
Before that, Carruthers R Michael had sold 2,157 shares from its account. In a trade valued at $40,789, the Chief Financial Officer traded Edgewise Therapeutics Inc shares for $18.91 each. Upon closing the transaction, the insider’s holdings decreased to 2,157 shares, worth approximately $0.74 million.
As published in their initiating research note from Piper Sandler on March 07, 2024, Edgewise Therapeutics Inc [EWTX] has been an Overweight and the price target has been revised to $48. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in early May. As of August 25, 2022, Goldman has decreased its “Neutral” rating to a “Sell” for EWTX. Earlier on April 13, 2022, RBC Capital Mkts initiated its rating. Their recommendation was “an Outperform” for EWTX stock.
Analyzing EWTX Stock Performance
During the last five days, there has been a surge of approximately 9.89%. Over the course of the year, Edgewise Therapeutics Inc shares have jumped approximately 90.95%. Shares of the company reached a 52-week high of $21.60 on 05/08/24 and a 52-week low of $9.00 on 01/17/24. A 50-day SMA is recorded $17.11, while a 200-day SMA reached $11.07. Nevertheless, trading volume fell to 0.69 million shares from 0.59 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 20.30, which, if violated, would cause prices to drop to 19.72. In the upper region, resistance lies at 21.54. The next price resistance is at 22.19. RSI (Relative Strength Index) is 72.72 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.00, which suggests the price will increase in the coming days. Percent R is at 10.60%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
