Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has received a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.00.

A number of equities analysts recently weighed in on EWTX shares. Wedbush reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Royal Bank Of Canada reissued an “outperform” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a research report on Thursday, June 5th. Piper Sandler reissued an “overweight” rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Guggenheim began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, April 30th. They set a “buy” rating and a $41.00 price objective for the company. Finally, Scotiabank cut shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $50.00 to $14.00 in a research report on Wednesday, April 2nd.

Edgewise Therapeutics Trading Down 0.4%

Shares of Edgewise Therapeutics stock opened at $12.96 on Friday. The firm has a market capitalization of $1.36 billion, a PE ratio of -8.36 and a beta of 0.25. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $38.12. The firm’s 50-day moving average price is $14.62 and its 200 day moving average price is $20.57.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.02. On average, sell-side analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Activity

In other news, CMO Joanne M. Donovan sold 5,187 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $85,326.15. Following the transaction, the chief marketing officer directly owned 21,588 shares in the company, valued at $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kevin Koch sold 4,276 shares of the company’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $70,340.20. Following the transaction, the chief executive officer owned 20,619 shares in the company, valued at $339,182.55. The trade was a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of large investors have recently bought and sold shares of EWTX. Diadema Partners LP purchased a new position in Edgewise Therapeutics during the fourth quarter worth approximately $36,000. Jones Financial Companies Lllp purchased a new position in Edgewise Therapeutics during the first quarter worth approximately $47,000. GF Fund Management CO. LTD. purchased a new position in Edgewise Therapeutics during the fourth quarter worth approximately $53,000. Allostery Investments LP purchased a new position in Edgewise Therapeutics during the first quarter worth approximately $66,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Edgewise Therapeutics by 55.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company’s stock worth $70,000 after purchasing an additional 1,141 shares during the period.

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.