Edgewise Therapeutics (NASDAQ:EWTX) Announces Quarterly Earnings Results

Edgewise Therapeutics (NASDAQ:EWTX) released its quarterly earnings results on Monday. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03), Zacks reports.

Edgewise Therapeutics Price Performance

NASDAQ EWTX opened at $26.56 on Monday. The firm’s 50-day moving average is $27.06 and its two-hundred day moving average is $27.67. Edgewise Therapeutics has a 12 month low of $14.90 and a 12 month high of $38.12. The stock has a market capitalization of $2.52 billion, a P/E ratio of -17.80 and a beta of 0.20.

Analysts Set New Price Targets

EWTX has been the topic of several analyst reports. Evercore ISI increased 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. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price on the stock. Truist Financial upped their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Wedbush lifted their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Edgewise Therapeutics has an average rating of “Moderate Buy” and an average target price of $41.29.

Insider Activity

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the sale, the insider now owns 14,863 shares of the company’s stock, valued at $406,800.31. This trade represents a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin Koch sold 8,636 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the sale, the chief executive officer now owns 14,478 shares in the company, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,545 shares of company stock worth $4,605,305. 24.11% of the stock is currently owned by company insiders.

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.