Brokerages Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Price Target at $45.38

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight research firms that are currently covering the company, MarketBeat reports. One investment 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.

EWTX has been the topic of a number of research reports. Evercore ISI increased their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Stifel Nicolaus started coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $56.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Finally, Scotiabank initiated coverage on shares of Edgewise Therapeutics in a report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price objective on the stock.

Edgewise Therapeutics Stock Down 0.7 %

EWTX stock traded down $0.17 during trading on Thursday, hitting $23.27. 701,469 shares of the company's stock traded hands, compared to its average volume of 964,004. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of -15.51 and a beta of 0.22. Edgewise Therapeutics has a 52 week low of $14.90 and a 52 week high of $38.12. The stock has a fifty day moving average price of $26.27 and a two-hundred day moving average price of $28.60.

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Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data 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). As a group, equities research analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Kevin Koch sold 8,636 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the sale, the insider now owns 14,863 shares of the company's stock, valued at $406,800.31. This trade represents a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,836 shares of company stock valued at $3,723,245 over the last 90 days. 24.11% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds have recently modified their holdings of EWTX. Diadema Partners LP acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at $36,000. GF Fund Management CO. LTD. acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at about $53,000. Aquatic Capital Management LLC acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at about $77,000. Tower Research Capital LLC TRC boosted its position in shares of 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 purchasing an additional 3,369 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Edgewise Therapeutics in the 4th quarter worth approximately $103,000.

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.