Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $27.39, but opened at $26.06. Edgewise Therapeutics shares last traded at $26.52, with a volume of 158,987 shares trading hands.
Analysts Set New Price Targets
EWTX has been the subject of several recent research reports. Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday. They set a "hold" rating and a $30.00 target price for the company. Piper Sandler lifted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Wedbush upped 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. Truist Financial lifted 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. Finally, Evercore ISI boosted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Edgewise Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $41.29.
Read Our Latest Report on EWTX
Edgewise Therapeutics Stock Down 0.9 %
The firm has a market capitalization of $2.57 billion, a PE ratio of -18.09 and a beta of 0.20. The stock has a 50-day moving average price of $29.37 and a 200 day moving average price of $26.15.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data 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, equities 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, 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 value of $882,060.21. Following the transaction, the insider now directly owns 6,716 shares of the company's stock, valued at approximately $199,398.04. This trade represents a 81.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Alan J. Russell sold 100,000 shares of the company's stock in a transaction dated 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 sale, the insider now directly owns 14,863 shares of the company's stock, valued at approximately $406,800.31. This represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.11% of the company's stock.
Hedge Funds Weigh In On Edgewise Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Edgewise Therapeutics by 21.7% during 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 during the period. Meeder Asset Management Inc. increased its position in Edgewise Therapeutics by 69.9% during the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock worth $88,000 after purchasing an additional 1,361 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new position in Edgewise Therapeutics during the third quarter worth about $161,000. Dark Forest Capital Management LP acquired a new position in Edgewise Therapeutics in the 2nd quarter valued at about $193,000. Finally, Profund Advisors LLC purchased a new stake in shares of Edgewise Therapeutics in the 2nd quarter valued at approximately $205,000.
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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