Edgewise Therapeutics (NASDAQ:EWTX) Now Covered by Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Edgewise Therapeutics (NASDAQ:EWTXFree Report) in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage issued a hold rating and a $30.00 price objective on the stock.

A number of other research firms have also recently issued reports on EWTX. Piper Sandler upped their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Truist Financial boosted their price target 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. Wedbush upped their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Evercore ISI lifted their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.29.

Read Our Latest Analysis on Edgewise Therapeutics

Edgewise Therapeutics Trading Down 0.9 %

NASDAQ:EWTX opened at $27.14 on Wednesday. The stock has a 50 day simple moving average of $29.37 and a 200 day simple moving average of $26.15. The stock has a market cap of $2.57 billion, a P/E ratio of -18.09 and a beta of 0.20. Edgewise Therapeutics has a 1-year low of $14.90 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTXGet Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, sell-side analysts forecast that Edgewise Therapeutics will post -1.45 EPS for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the sale, the insider now directly owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Marc Semigran sold 29,709 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the transaction, the insider now owns 6,716 shares of the company’s stock, valued at $199,398.04. The trade was a 81.56 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.11% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Several institutional investors have recently added to or reduced their stakes in EWTX. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 604 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of Edgewise Therapeutics by 69.9% during the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after buying an additional 1,361 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Edgewise Therapeutics in the third quarter worth about $161,000. Dark Forest Capital Management LP bought a new position in Edgewise Therapeutics in the 2nd quarter valued at $193,000. Finally, Profund Advisors LLC purchased a new position in Edgewise Therapeutics during the second quarter worth about $205,000.

About Edgewise Therapeutics

(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.

Further Reading

Analyst Recommendations for Edgewise Therapeutics (NASDAQ:EWTX)

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