Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $41.29.

Several brokerages recently issued reports on EWTX. Wedbush boosted their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Stifel Nicolaus began coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price target on the stock. Piper Sandler increased their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Evercore ISI boosted 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. Finally, Truist Financial upped their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th.

Edgewise Therapeutics Price Performance

EWTX traded down $2.32 during mid-day trading on Wednesday, hitting $26.37. The stock had a trading volume of 1,261,112 shares, compared to its average volume of 931,764. Edgewise Therapeutics has a 1-year low of $14.90 and a 1-year high of $38.12. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of -17.58 and a beta of 0.20. The stock's fifty day simple moving average is $28.44 and its 200-day simple moving average is $26.68.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. As a group, research analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CEO Kevin Koch sold 8,636 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was 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 owns 14,478 shares in the company, valued at $434,774.34. This trade represents a 37.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc Semigran sold 29,709 shares of Edgewise Therapeutics stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the sale, the insider now directly owns 6,716 shares of the company's stock, valued at $199,398.04. This represents a 81.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,545 shares of company stock worth $4,605,305. Company insiders own 24.11% of the company's stock.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock valued at $88,000 after purchasing an additional 604 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Edgewise Therapeutics by 69.9% during the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock valued at $88,000 after purchasing an additional 1,361 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Edgewise Therapeutics in the third quarter worth approximately $161,000. US Bancorp DE increased its stake in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company's stock worth $228,000 after buying an additional 8,468 shares during the period. Finally, Quest Partners LLC raised its holdings in Edgewise Therapeutics by 418.7% during the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company's stock valued at $241,000 after buying an additional 7,293 shares during the last quarter.

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.