Edgewise Therapeutics (NASDAQ:EWTX) Issues Earnings Results

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) released its quarterly earnings data on Monday. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03), Zacks reports.

Edgewise Therapeutics Trading Down 2.4 %

EWTX traded down $0.64 on Monday, hitting $25.53. The company had a trading volume of 1,108,715 shares, compared to its average volume of 994,955. The company's fifty day moving average price is $26.98 and its 200 day moving average price is $27.72. Edgewise Therapeutics has a 1 year low of $14.90 and a 1 year high of $38.12. The firm has a market cap of $2.42 billion, a P/E ratio of -17.02 and a beta of 0.20.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Wedbush raised their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Evercore ISI lifted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Finally, Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Edgewise Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $41.29.

Insiders Place Their Bets

In related news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 14,863 shares of the company's stock, valued at approximately $406,800.31. This trade represents a 87.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Koch sold 8,636 shares of the business'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 value of $259,339.08. Following the completion of the sale, the chief executive officer now directly owns 14,478 shares in the company, valued at approximately $434,774.34. The trade was a 37.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,545 shares of company stock valued at $4,605,305 over the last 90 days. 24.11% of the stock is owned by company insiders.

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.