Edgewise Therapeutics (NASDAQ:EWTX) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock traded down $0.64 during trading on Monday, hitting $25.53. 1,108,715 shares of the company's stock were exchanged, compared to its average volume of 994,955. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of -17.02 and a beta of 0.20. The business has a 50-day simple moving average of $26.98 and a 200-day simple moving average of $27.72. Edgewise Therapeutics has a 52-week low of $14.90 and a 52-week high of $38.12.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Marc Semigran sold 29,709 shares of the company's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total value of $2,737,000.00. Following the transaction, the insider now owns 14,863 shares of the company's stock, valued at approximately $406,800.31. This represents a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,545 shares of company stock valued at $4,605,305. 24.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on EWTX shares. Truist Financial raised their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday, November 27th. Evercore ISI raised their price objective 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 report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price on the stock. Finally, Wedbush raised their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $41.29.

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.