Edgewise Therapeutics (NASDAQ:EWTX) Trading Up 3.6%

Edgewise Therapeutics, Inc. (NASDAQ:EWTXGet Free Report)’s share price was up 3.6% during trading on Friday . The company traded as high as $17.42 and last traded at $17.42. Approximately 11,740 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 818,847 shares. The stock had previously closed at $16.81.

Wall Street Analyst Weigh In

A number of equities analysts have commented on EWTX shares. Royal Bank of Canada boosted their price objective on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Monday, April 22nd. Wedbush restated an “outperform” rating and set a $26.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, April 16th. Piper Sandler began coverage on Edgewise Therapeutics in a research report on Thursday, March 7th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Truist Financial restated a “buy” rating and set a $25.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Edgewise Therapeutics presently has an average rating of “Buy” and a consensus target price of $31.20.

View Our Latest Report on Edgewise Therapeutics

Edgewise Therapeutics Stock Up 5.6 %

The business has a fifty day moving average of $17.49 and a 200 day moving average of $15.41.

Edgewise Therapeutics (NASDAQ:EWTXGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.06. On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Behrad Derakhshan sold 1,718 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $32,487.38. Following the completion of the transaction, the insider now directly owns 13,422 shares of the company’s stock, valued at $253,810.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Behrad Derakhshan sold 1,718 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $32,487.38. Following the completion of the transaction, the insider now directly owns 13,422 shares of the company’s stock, valued at $253,810.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Joanne M. Donovan sold 3,682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $69,626.62. Following the transaction, the chief marketing officer now directly owns 19,897 shares of the company’s stock, valued at $376,252.27. The disclosure for this sale can be found here. Insiders sold 12,665 shares of company stock worth $239,495 over the last ninety days. 24.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. RA Capital Management L.P. bought a new position in shares of Edgewise Therapeutics during the 1st quarter worth approximately $162,502,000. Baker BROS. Advisors LP boosted its stake in shares of Edgewise Therapeutics by 87.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock worth $106,523,000 after acquiring an additional 2,727,273 shares during the period. Vanguard Group Inc. boosted its stake in shares of Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock worth $73,278,000 after acquiring an additional 1,892,053 shares during the period. Frazier Life Sciences Management L.P. boosted its stake in shares of Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after acquiring an additional 1,818,181 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of Edgewise Therapeutics by 48.6% during the 1st quarter. Janus Henderson Group PLC now owns 1,805,312 shares of the company’s stock worth $32,898,000 after acquiring an additional 590,299 shares during the period.

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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