Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) has received an average recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $40.00.

Several equities analysts recently issued reports on the stock. HC Wainwright assumed coverage on shares of Edgewise Therapeutics in a report on Monday, June 30th. They set a "buy" rating and a $42.00 price objective on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $48.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, June 5th. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and cut their price objective for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Guggenheim began coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price target on the stock. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd.

Edgewise Therapeutics Stock Down 0.4%

Shares of EWTX stock opened at $12.96 on Friday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -8.36 and a beta of 0.25. The company's 50 day moving average is $14.62 and its 200 day moving average is $20.57. Edgewise Therapeutics has a 52-week low of $10.60 and a 52-week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.02. Analysts anticipate that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Activity at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 5,187 shares of Edgewise Therapeutics stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $85,326.15. Following the completion of the sale, the chief marketing officer directly owned 21,588 shares in the company, valued at approximately $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel John R. Moore sold 1,930 shares of Edgewise Therapeutics stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $31,748.50. Following the sale, the general counsel owned 6,531 shares of the company's stock, valued at $107,434.95. The trade was a 22.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EWTX. Diadema Partners LP acquired a new position in Edgewise Therapeutics during the fourth quarter valued at $36,000. Jones Financial Companies Lllp acquired a new position in Edgewise Therapeutics during the first quarter valued at $47,000. GF Fund Management CO. LTD. acquired a new position in Edgewise Therapeutics during the fourth quarter valued at $53,000. Allostery Investments LP acquired a new position in Edgewise Therapeutics during the first quarter valued at $66,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in Edgewise Therapeutics by 55.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company's stock valued at $70,000 after purchasing an additional 1,141 shares during the period.

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.

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