Edgewise Therapeutics (NASDAQ:EWTX) Rating Reiterated by Wedbush

Wedbush reaffirmed their outperform rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $31.00 target price on the stock.

Several other equities analysts have also issued reports on the stock. Piper Sandler started coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They issued an overweight rating and a $48.00 price target for the company. Truist Financial restated a buy rating and issued a $25.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Finally, Royal Bank of Canada lifted their price objective on Edgewise Therapeutics from $28.00 to $32.00 and gave the company an outperform rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Edgewise Therapeutics currently has a consensus rating of Buy and an average price target of $32.20.

Edgewise Therapeutics Stock Up 2.9 %

NASDAQ:EWTX opened at $18.01 on Wednesday. Edgewise Therapeutics has a 12-month low of $5.12 and a 12-month high of $21.60. The stock’s fifty day simple moving average is $17.66 and its 200-day simple moving average is $15.86. The firm has a market capitalization of $1.68 billion, a P/E ratio of -11.62 and a beta of 0.13.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its earnings results on Thursday, May 9th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.06. As a group, equities research analysts expect that Edgewise Therapeutics will post -1.59 earnings per share for the current year.

Insider Buying and Selling

In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 1,718 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $32,487.38. Following the sale, the insider now owns 13,422 shares in the company, valued at approximately $253,810.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 1,718 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $32,487.38. Following the sale, the insider now directly owns 13,422 shares of the company’s stock, valued at approximately $253,810.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO R Michael Carruthers sold 2,157 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $40,788.87. Following the completion of the transaction, the chief financial officer now owns 35,230 shares of the company’s stock, valued at approximately $666,199.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,665 shares of company stock worth $239,495. 24.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EWTX. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Edgewise Therapeutics by 349.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after buying an additional 5,704 shares during the last quarter. AJOVista LLC bought a new stake in Edgewise Therapeutics during the fourth quarter worth $84,000. Corton Capital Inc. acquired a new stake in Edgewise Therapeutics in the third quarter valued at $98,000. Ameritas Investment Partners Inc. grew its position in shares of Edgewise Therapeutics by 37.3% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after acquiring an additional 1,561 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Edgewise Therapeutics by 29.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,833 shares of the company’s stock worth $228,000 after purchasing an additional 4,785 shares during the last quarter.

Edgewise Therapeutics Company Profile

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.