Edgewise Therapeutics (NASDAQ:EWTX) Receives Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a report published on Monday morning,Benzinga reports. The brokerage currently has a $43.00 target price on the stock.

Other analysts have also issued research reports about the company. Scotiabank lowered Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and cut their price target for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Royal Bank of Canada decreased their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target for the company. Finally, Piper Sandler restated an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $40.13.

Edgewise Therapeutics Stock Performance

EWTX stock opened at $13.30 on Monday. The business’s 50-day moving average is $21.20 and its two-hundred day moving average is $27.20. The company has a market cap of $1.39 billion, a price-to-earnings ratio of -8.87 and a beta of 0.32. Edgewise Therapeutics has a fifty-two week low of $10.60 and a fifty-two week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Equities analysts predict that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

Insider Activity at Edgewise Therapeutics

In related news, CEO Kevin Koch sold 8,636 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now owns 14,863 shares in the company, valued at $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,836 shares of company stock valued at $986,245. Corporate insiders own 24.11% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

A number of large investors have recently made changes to their positions in the business. Diadema Partners LP bought a new position in shares of Edgewise Therapeutics in the 4th quarter valued at about $36,000. GF Fund Management CO. LTD. bought a new position in shares of Edgewise Therapeutics during the 4th quarter valued at approximately $53,000. Aquatic Capital Management LLC purchased a new stake in Edgewise Therapeutics during the 4th quarter valued at $77,000. Tower Research Capital LLC TRC raised its holdings in Edgewise Therapeutics by 1,097.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company’s stock valued at $98,000 after buying an additional 3,369 shares during the period. Finally, Quantbot Technologies LP bought a new stake in Edgewise Therapeutics in the fourth quarter worth $103,000.

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.