Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $27.72, but opened at $27.16. Edgewise Therapeutics shares last traded at $26.58, with a volume of 28,746 shares trading hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. Wedbush raised their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Truist Financial boosted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Evercore ISI raised their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Finally, Piper Sandler boosted 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $43.17.
Check Out Our Latest Stock Analysis on EWTX
Edgewise Therapeutics Price Performance
The company has a 50 day moving average price of $31.57 and a 200-day moving average price of $25.44. The stock has a market capitalization of $2.51 billion, a PE ratio of -17.71 and a beta of 0.20.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, equities analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the sale, the insider now directly owns 14,863 shares of the company's stock, valued at $406,800.31. This trade represents a 87.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Marc Semigran sold 29,709 shares of the firm's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the sale, the insider now directly owns 6,716 shares in the company, valued at approximately $199,398.04. The trade was a 81.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.11% of the company's stock.
Institutional Investors Weigh In On Edgewise Therapeutics
A number of large investors have recently added to or reduced their stakes in the stock. Novo Holdings A S purchased a new position in Edgewise Therapeutics in the second quarter worth about $114,263,000. Braidwell LP bought a new position in Edgewise Therapeutics in the third quarter worth approximately $52,267,000. Janus Henderson Group PLC boosted its stake in shares of Edgewise Therapeutics by 74.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company's stock worth $121,616,000 after acquiring an additional 1,951,220 shares during the last quarter. Millennium Management LLC grew its position in shares of Edgewise Therapeutics by 115.2% during the 2nd quarter. Millennium Management LLC now owns 1,145,506 shares of the company's stock valued at $20,631,000 after acquiring an additional 613,251 shares during the period. Finally, Sofinnova Investments Inc. purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth $8,567,000.
Edgewise Therapeutics Company Profile
(
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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