Analysts Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) PT at $40.55

Key Points

• Edgewise Therapeutics has received an average rating of "Moderate Buy" from analysts, with a 12-month target price averaging $40.55.
• The company reported a loss of ($0.34) earnings per share for the latest quarter, beating analysts' estimates.
• Insider trading activity includes significant share sales by both the CMO and CEO, indicating a 20.66% decrease in CEO's ownership after selling 7,972 shares.

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $40.5455.

Several equities research analysts recently weighed in on EWTX shares. Guggenheim started coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 19th. Royal Bank Of Canada boosted their target price on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the company 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 issued a "strong-buy" rating and a $46.00 target price on the stock. Finally, HC Wainwright began coverage on shares of Edgewise Therapeutics in a research report on Monday, June 30th. They set a "buy" rating and a $42.00 price target for the company.

Insider Buying and Selling at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 2,098 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $28,092.22. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 1,907 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total value of $25,534.73. Following the transaction, the insider directly owned 23,400 shares of the company's stock, valued at approximately $313,326. This trade represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,267 shares of company stock valued at $217,815 over the last ninety days. Company insiders own 23.20% of the company's stock.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of EWTX. GF Fund Management CO. LTD. purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at $53,000. Jones Financial Companies Lllp bought a new position in Edgewise Therapeutics during the 1st quarter valued at about $47,000. Aquatic Capital Management LLC purchased a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at about $77,000. Allostery Investments LP bought a new stake in shares of Edgewise Therapeutics in the first quarter worth approximately $66,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Edgewise Therapeutics by 55.6% in the first quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company's stock worth $70,000 after acquiring an additional 1,141 shares during the period.

Edgewise Therapeutics Trading Up 2.1%

Edgewise Therapeutics stock traded up $0.30 during mid-day trading on Friday, hitting $14.60. 2,235,648 shares of the company traded hands, compared to its average volume of 646,046. The stock has a fifty day moving average price of $13.78 and a 200-day moving average price of $16.96. Edgewise Therapeutics has a one year low of $10.60 and a one year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. Analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

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.