Edgewise Therapeutics (NASDAQ:EWTX) Posts Earnings Results, Misses Estimates By $0.02 EPS

Edgewise Therapeutics (NASDAQ:EWTXGet Rating) issued its quarterly earnings results on Wednesday. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.02), MarketWatch Earnings reports.

Shares of Edgewise Therapeutics stock opened at $7.47 on Friday. The firm’s 50 day simple moving average is $9.30 and its two-hundred day simple moving average is $13.83. Edgewise Therapeutics has a 12-month low of $6.93 and a 12-month high of $29.98.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Edgewise Therapeutics by 252.9% in the 4th quarter. BlackRock Inc. now owns 2,047,603 shares of the company’s stock worth $31,288,000 after acquiring an additional 1,467,371 shares during the last quarter. State Street Corp raised its stake in shares of Edgewise Therapeutics by 165.5% in the fourth quarter. State Street Corp now owns 528,638 shares of the company’s stock worth $8,078,000 after purchasing an additional 329,542 shares during the last quarter. Norges Bank acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth about $4,610,000. Geode Capital Management LLC boosted its position in Edgewise Therapeutics by 61.2% in the fourth quarter. Geode Capital Management LLC now owns 391,582 shares of the company’s stock valued at $5,983,000 after buying an additional 148,663 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in Edgewise Therapeutics by 222.3% in the 4th quarter. Nuveen Asset Management LLC now owns 93,350 shares of the company’s stock worth $1,801,000 after buying an additional 64,387 shares during the period.

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Edgewise Therapeutics from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, February 14th. Royal Bank of Canada began coverage on shares of Edgewise Therapeutics in a research note on Wednesday, April 13th. They issued an “outperform” rating and a $31.00 target price on the stock. Zacks Investment Research raised shares of Edgewise Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 1st. SVB Leerink reissued an “outperform” rating on shares of Edgewise Therapeutics in a research report on Monday, April 25th. Finally, The Goldman Sachs Group began coverage on Edgewise Therapeutics in a report on Friday, January 28th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $29.67.

About Edgewise Therapeutics (Get Rating)

Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. The Company's lead product candidate, EDG-5506, is an orally administered small molecule designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy which has completed Phase 1 clinical trial.

Recommended Stories

Earnings History for Edgewise Therapeutics (NASDAQ:EWTX)

Receive News & Ratings for Edgewise Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edgewise Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.