Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) have been given an average recommendation of "Buy" by the six research firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $43.17.
Several analysts have recently weighed in on the stock. Wedbush raised their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Truist Financial lifted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Piper Sandler increased their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Royal Bank of Canada restated an "outperform" rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Finally, Evercore ISI increased their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a research report on Tuesday, December 17th.
View Our Latest Stock Report on Edgewise Therapeutics
Edgewise Therapeutics Stock Performance
Edgewise Therapeutics stock traded down $1.27 during midday trading on Friday, hitting $24.15. 935,709 shares of the company's stock were exchanged, compared to its average volume of 813,435. The company has a market cap of $2.29 billion, a P/E ratio of -16.10 and a beta of 0.20. The stock has a 50-day moving average price of $30.72 and a two-hundred day moving average price of $25.67. Edgewise Therapeutics has a 52-week low of $9.00 and a 52-week high of $38.12.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.01. As a group, sell-side analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the completion of the sale, the insider now directly owns 14,863 shares in the company, valued at approximately $406,800.31. This represents a 87.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Marc Semigran sold 29,709 shares of the business's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the transaction, the insider now owns 6,716 shares in the company, valued at approximately $199,398.04. This represents a 81.56 % decrease in their position. The disclosure for this sale can be found here. 24.11% of the stock is owned by corporate insiders.
Institutional Trading of Edgewise Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC raised its holdings in Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company's stock worth $31,000 after purchasing an additional 1,064 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Edgewise Therapeutics in the second quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 acquiring an additional 604 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in shares of Edgewise Therapeutics during the 3rd quarter worth approximately $161,000. Finally, US Bancorp DE raised its position in shares of Edgewise Therapeutics by 12,452.9% in the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company's stock worth $228,000 after acquiring an additional 8,468 shares in the last quarter.
About Edgewise Therapeutics
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Get Free ReportEdgewise 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.
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