Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $40.5455.
A number of brokerages have recently issued reports on EWTX. HC Wainwright began coverage on shares of Edgewise Therapeutics in a report on Monday, June 30th. They set a "buy" rating and a $42.00 price target for the company. Royal Bank Of Canada raised their price target on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Raymond James Financial initiated coverage on shares of Edgewise Therapeutics in a research report on Wednesday, July 30th. They set a "strong-buy" rating and a $46.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, August 19th.
Check Out Our Latest Stock Analysis on EWTX
Edgewise Therapeutics Stock Performance
Shares of NASDAQ EWTX traded down $0.30 during midday trading on Friday, reaching $14.35. 670,556 shares of the stock were exchanged, compared to its average volume of 731,608. The company has a 50 day simple moving average of $13.78 and a 200 day simple moving average of $16.76. The stock has a market capitalization of $1.51 billion, a P/E ratio of -9.26 and a beta of 0.26. Edgewise Therapeutics has a twelve month low of $10.60 and a twelve month high of $38.12.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. On average, research analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current year.
Insider Activity at Edgewise Therapeutics
In related news, CEO Kevin Koch sold 7,972 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $106,745.08. Following the completion of the transaction, the chief executive officer owned 30,615 shares of the company's stock, valued at approximately $409,934.85. This trade represents a 20.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel John R. Moore sold 2,098 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $28,092.22. Following the transaction, the general counsel directly owned 10,214 shares of the company's stock, valued at $136,765.46. The trade was a 17.04% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 116,267 shares of company stock worth $1,677,815. Company insiders own 23.20% of the company's stock.
Hedge Funds Weigh In On Edgewise Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new position in Edgewise Therapeutics in the 4th quarter valued at approximately $53,000. Jones Financial Companies Lllp purchased a new position in Edgewise Therapeutics in the 1st quarter valued at approximately $47,000. Aquatic Capital Management LLC purchased a new position in Edgewise Therapeutics in the 4th quarter valued at approximately $77,000. Allostery Investments LP purchased a new position in Edgewise Therapeutics in the 1st quarter valued at approximately $66,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Edgewise Therapeutics by 55.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company's stock valued at $70,000 after buying an additional 1,141 shares during the period.
Edgewise Therapeutics Company Profile
(
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
Before you consider Edgewise Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Edgewise Therapeutics wasn't on the list.
While Edgewise Therapeutics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
