Edgewise Therapeutics (NASDAQ:EWTX) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $20.00 price target on the stock.

A number of other research firms have also commented on EWTX. Royal Bank Of Canada increased their price target on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. Raymond James Financial began coverage on Edgewise Therapeutics in a research report on Wednesday, July 30th. They issued a “strong-buy” rating and a $46.00 price target for the company. JPMorgan Chase & Co. lowered their price target on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, August 19th. Finally, HC Wainwright began coverage on Edgewise Therapeutics in a research report on Monday, June 30th. They issued a “buy” rating and a $42.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.83.

Edgewise Therapeutics Stock Down 10.2%

Shares of NASDAQ:EWTX opened at $14.89 on Thursday. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -9.61 and a beta of 0.26. The stock’s 50 day moving average is $14.26 and its 200-day moving average is $15.26. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.08. Equities research analysts anticipate that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Joanne M. Donovan sold 2,862 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $38,322.18. Following the completion of the transaction, the chief marketing officer owned 25,361 shares in the company, valued at approximately $339,583.79. This represents a 10.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Koch sold 7,972 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $106,745.08. Following the transaction, the chief executive officer owned 30,615 shares of the company’s stock, valued at $409,934.85. The trade was a 20.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 116,267 shares of company stock worth $1,677,815 over the last 90 days. Company insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new position in shares of Edgewise Therapeutics during the 2nd quarter worth $45,000. Jones Financial Companies Lllp bought a new position in shares of Edgewise Therapeutics during the 1st quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Edgewise Therapeutics by 28.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock worth $53,000 after acquiring an additional 894 shares during the period. Allostery Investments LP bought a new position in shares of Edgewise Therapeutics during the 1st quarter worth $66,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Edgewise Therapeutics by 55.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company’s stock worth $70,000 after acquiring an additional 1,141 shares during the period.

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.