Edgewise Therapeutics (NASDAQ:EWTX) Now Covered by Evercore ISI

Evercore ISI assumed coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX - Free Report) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $45.00 price objective on the stock.

EWTX has been the topic of a number of other research reports. Piper Sandler upped their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Truist Financial increased their target price on Edgewise Therapeutics from $25.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. boosted their price target on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Wedbush increased their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $39.50.

Edgewise Therapeutics Trading Up 0.7 %

Shares of EWTX traded up $0.22 during midday trading on Friday, reaching $32.20. The stock had a trading volume of 352,873 shares, compared to its average volume of 943,179. The firm has a 50 day simple moving average of $30.66 and a 200-day simple moving average of $22.69. The firm has a market cap of $3.05 billion, a PE ratio of -21.37 and a beta of 0.14. Edgewise Therapeutics has a one year low of $5.93 and a one year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. As a group, research analysts forecast that Edgewise Therapeutics will post -1.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO R Michael Carruthers sold 125,092 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the sale, the chief financial officer now directly owns 6,904 shares of the company's stock, valued at approximately $197,247.28. The trade was a 94.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Joanne M. Donovan sold 7,162 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.29, for a total transaction of $202,612.98. Following the transaction, the chief marketing officer now owns 14,538 shares of the company's stock, valued at $411,280.02. This trade represents a 33.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 278,176 shares of company stock valued at $7,893,316 over the last quarter. 24.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently modified their holdings of the business. Quest Partners LLC increased its position in shares of Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company's stock worth $31,000 after buying an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new stake in Edgewise Therapeutics during the 2nd quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock worth $88,000 after acquiring an additional 604 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in shares of Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company's stock valued at $105,000 after purchasing an additional 1,561 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at about $161,000.

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.