Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $28.00, but opened at $28.95. Edgewise Therapeutics shares last traded at $28.62, with a volume of 13,083 shares traded.
Wall Street Analyst Weigh In
EWTX has been the topic of a number of recent research reports. Evercore ISI lifted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. Piper Sandler raised their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective on the stock. Wedbush lifted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Finally, Truist Financial upped their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Edgewise Therapeutics has an average rating of "Moderate Buy" and an average target price of $41.29.
View Our Latest Analysis on Edgewise Therapeutics
Edgewise Therapeutics Stock Up 4.6 %
The stock has a market cap of $2.79 billion, a P/E ratio of -19.67 and a beta of 0.20. The business has a 50-day simple moving average of $28.74 and a 200-day simple moving average of $26.52.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping analysts' consensus estimates of ($0.37) by $0.01. On average, analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.
Insider Activity at Edgewise Therapeutics
In related news, insider Alan J. Russell sold 100,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 14,863 shares of the company's stock, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Joanne M. Donovan sold 25,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the transaction, the chief marketing officer now directly owns 16,358 shares in the company, valued at $451,971.54. The trade was a 60.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,709 shares of company stock valued at $4,309,810 over the last quarter. 24.11% of the stock is owned by company insiders.
Hedge Funds Weigh In On Edgewise Therapeutics
A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWTX. Meeder Asset Management Inc. raised its stake in Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock valued at $88,000 after acquiring an additional 1,361 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 acquiring an additional 604 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Edgewise Therapeutics in the third quarter valued at about $161,000. US Bancorp DE raised its stake in Edgewise Therapeutics by 12,452.9% in the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company's stock worth $228,000 after purchasing an additional 8,468 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Edgewise Therapeutics by 418.7% during the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company's stock worth $241,000 after purchasing an additional 7,293 shares in the last quarter.
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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