Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) shares saw strong trading volume on Monday . 898,321 shares changed hands during mid-day trading, a decline of 3% from the previous session's volume of 924,785 shares.The stock last traded at $30.48 and had previously closed at $27.62.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on EWTX shares. Evercore ISI started coverage on Edgewise Therapeutics in a research note on Friday, November 22nd. They issued an "outperform" rating and a $45.00 target price for the company. Truist Financial raised their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Piper Sandler boosted their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Royal Bank of Canada reissued an "outperform" rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Finally, Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $42.33.
Get Our Latest Analysis on Edgewise Therapeutics
Edgewise Therapeutics Trading Up 18.4 %
The firm's 50 day moving average price is $32.69 and its 200-day moving average price is $24.19. The company has a market cap of $3.10 billion, a P/E ratio of -22.85 and a beta of 0.12.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.01. Analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CFO R Michael Carruthers sold 125,092 shares of Edgewise Therapeutics stock in a transaction 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 transaction, the chief financial officer now directly owns 6,904 shares of the company's stock, valued at $197,247.28. This trade represents a 94.77 % decrease in their ownership of the stock. 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 business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.29, for a total transaction of $202,612.98. Following the completion of the transaction, the chief marketing officer now directly owns 14,538 shares of the company's stock, valued at $411,280.02. This trade represents a 33.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 278,176 shares of company stock valued at $7,893,316 over the last three months. Company insiders own 24.11% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC raised 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 purchasing an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new stake in Edgewise Therapeutics during the 2nd quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock valued at $88,000 after buying an additional 604 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new position in shares of Edgewise Therapeutics in the third quarter valued at approximately $161,000. Finally, Arizona State Retirement System bought a new stake in shares of Edgewise Therapeutics during the second quarter worth $188,000.
About Edgewise Therapeutics
(
Get Free Report)
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.
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