Edgewise Therapeutics (NASDAQ:EWTX) Price Target Increased to $32.00 by Analysts at Royal Bank of Canada

Edgewise Therapeutics (NASDAQ:EWTX) had its price objective lifted by Royal Bank of Canada from $28.00 to $32.00 in a research report report published on Monday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts have also weighed in on EWTX. Truist Financial restated a buy rating and set a $25.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Piper Sandler began coverage on Edgewise Therapeutics in a research report on Thursday, March 7th. They issued an overweight rating and a $48.00 target price for the company. Finally, Wedbush reiterated an outperform rating and set a $26.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, April 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of Buy and an average price target of $31.20.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $15.08 on Monday. The business has a 50-day moving average of $16.96 and a two-hundred day moving average of $12.14. The firm has a market capitalization of $1.40 billion, a PE ratio of -9.54 and a beta of 0.14. Edgewise Therapeutics has a 12 month low of $5.12 and a 12 month high of $20.69.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). As a group, research analysts anticipate that Edgewise Therapeutics will post -1.76 earnings per share for the current year.

Insider Activity

In related news, General Counsel John R. Moore sold 17,993 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $20.00, for a total value of $359,860.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Edgewise Therapeutics news, General Counsel John R. Moore sold 17,993 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $20.00, for a total value of $359,860.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Behrad Derakhshan sold 4,600 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $20.01, for a total value of $92,046.00. Following the transaction, the insider now owns 7,020 shares of the company’s stock, valued at $140,470.20. The disclosure for this sale can be found here. Insiders sold 30,622 shares of company stock worth $612,566 over the last ninety days. Corporate insiders own 31.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in Edgewise Therapeutics by 228.6% during the third quarter. New York State Common Retirement Fund now owns 43,871 shares of the company’s stock worth $251,000 after purchasing an additional 30,522 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in shares of Edgewise Therapeutics by 3.5% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock worth $670,000 after buying an additional 3,900 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $107,000. China Universal Asset Management Co. Ltd. grew its position in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after buying an additional 5,704 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Edgewise Therapeutics during the fourth quarter worth about $3,586,000.

About Edgewise Therapeutics

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.