Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $38.1250.

EWTX has been the subject of a number of research reports. Wall Street Zen cut shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Evercore restated an “outperform” rating and issued a $45.00 price target on shares of Edgewise Therapeutics in a report on Thursday, February 26th. JPMorgan Chase & Co. raised their price target on shares of Edgewise Therapeutics from $34.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, March 17th. HC Wainwright upgraded shares of Edgewise Therapeutics to a “strong-buy” rating in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Monday, April 20th.

Insider Buying and Selling

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 50,000 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $38.57, for a total value of $1,928,500.00. Following the completion of the sale, the chief marketing officer directly owned 4,367 shares in the company, valued at approximately $168,435.19. This trade represents a 91.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 83,892 shares of company stock valued at $3,018,216 in the last ninety days. Company insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Large investors have recently bought and sold shares of the stock. Bessemer Group Inc. lifted its stake in shares of Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock valued at $38,000 after buying an additional 2,165 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Edgewise Therapeutics in the second quarter valued at $45,000. Jones Financial Companies Lllp bought a new position in shares of Edgewise Therapeutics in the first quarter valued at $47,000. Seven Fleet Capital Management LP bought a new position in shares of Edgewise Therapeutics in the fourth quarter valued at $50,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Edgewise Therapeutics by 23.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after buying an additional 550 shares in the last quarter.

Edgewise Therapeutics Stock Up 20.9%

EWTX opened at $38.01 on Friday. Edgewise Therapeutics has a twelve month low of $12.15 and a twelve month high of $39.96. The company has a fifty day moving average of $31.28 and a 200-day moving average of $26.52. The stock has a market cap of $4.09 billion, a PE ratio of -23.32 and a beta of 0.25.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Sell-side analysts anticipate that Edgewise Therapeutics will post -2.16 EPS for the current fiscal year.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.