Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $41.29.

EWTX has been the subject of a number of research reports. Wedbush upped their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler upped their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Evercore ISI increased their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company.

Insider Buying and Selling

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total transaction of $690,750.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,358 shares of the company’s stock, valued at $451,971.54. This trade represents a 60.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Marc Semigran sold 29,709 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the completion of the sale, the insider now owns 6,716 shares in the company, valued at approximately $199,398.04. This trade represents a 81.56 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 154,709 shares of company stock worth $4,309,810. 24.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in shares of Edgewise Therapeutics by 69.9% during the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after purchasing an additional 1,361 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Edgewise Therapeutics by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after acquiring an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth about $161,000. US Bancorp DE lifted its position in Edgewise Therapeutics by 12,452.9% in the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after purchasing an additional 8,468 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in Edgewise Therapeutics by 418.7% during the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock valued at $241,000 after purchasing an additional 7,293 shares during the period.

Edgewise Therapeutics Price Performance

NASDAQ EWTX opened at $29.50 on Wednesday. The business’s 50-day simple moving average is $28.69 and its 200-day simple moving average is $26.57. The firm has a market capitalization of $2.79 billion, a P/E ratio of -19.67 and a beta of 0.20. Edgewise Therapeutics has a 1-year low of $14.90 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. On average, equities research analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.