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

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has been assigned an average rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $45.38.

Several equities research analysts recently commented on EWTX shares. Evercore ISI raised their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $56.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, March 4th. Scotiabank initiated coverage on shares of Edgewise Therapeutics in a research report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price for the company.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CEO Kevin Koch sold 8,636 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the transaction, the chief executive officer now owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. The trade was a 37.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Joanne M. Donovan sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total transaction of $690,750.00. Following the transaction, the chief marketing officer now directly owns 16,358 shares of the company’s stock, valued at $451,971.54. The trade was a 60.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock worth $986,245 over the last 90 days. Insiders own 24.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Quest Partners LLC lifted its holdings in Edgewise Therapeutics by 418.7% in the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock worth $241,000 after purchasing an additional 7,293 shares during the period. Intech Investment Management LLC bought a new stake in shares of Edgewise Therapeutics during the 3rd quarter worth about $531,000. Glenmede Trust Co. NA acquired a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth approximately $483,000. Acuta Capital Partners LLC bought a new position in shares of Edgewise Therapeutics in the third quarter valued at approximately $1,681,000. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Edgewise Therapeutics during the third quarter valued at approximately $5,010,000.

Edgewise Therapeutics Stock Performance

Edgewise Therapeutics stock opened at $22.00 on Thursday. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -14.67 and a beta of 0.22. The firm has a 50 day moving average price of $26.18 and a 200 day moving average price of $28.63. 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 Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Sell-side analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current year.

About Edgewise Therapeutics

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.