Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $43.17 Average Price Target from Analysts

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned a consensus recommendation of “Buy” from the six research firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $43.17.

A number of research firms have issued reports on EWTX. Piper Sandler lifted their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Truist Financial upped their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Evercore ISI raised their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Finally, Wedbush boosted their target price on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Insider Buying and Selling

In related news, insider Alan J. Russell sold 100,000 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the completion of the transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at $406,800.31. This trade represents a 87.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marc Semigran sold 29,709 shares of the company’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 completion of the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. This trade represents a 81.56 % decrease in their position. The disclosure for this sale can be found here. 24.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC raised its stake in Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after buying an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Edgewise Therapeutics in the 2nd quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after purchasing an additional 604 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at about $161,000. Finally, Arizona State Retirement System bought a new stake in shares of Edgewise Therapeutics during the 2nd quarter valued at about $188,000.

Edgewise Therapeutics Trading Down 1.7 %

Shares of Edgewise Therapeutics stock opened at $26.26 on Friday. The company has a market cap of $2.49 billion, a PE ratio of -17.51 and a beta of 0.20. The company has a 50 day moving average of $29.83 and a 200-day moving average of $25.92. Edgewise Therapeutics has a 1-year low of $9.61 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. Research analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

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.