Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report)'s share price traded up 8.5% on Wednesday . The company traded as high as $16.25 and last traded at $16.37. 254,503 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 1,180,341 shares. The stock had previously closed at $15.09.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 19th. HC Wainwright initiated coverage on Edgewise Therapeutics in a report on Monday, June 30th. They issued a "buy" rating and a $42.00 price target on the stock. Royal Bank Of Canada upped their price target on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a research note on Friday, August 8th. Finally, Raymond James Financial began coverage on shares of Edgewise Therapeutics in a report on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.55.
Check Out Our Latest Analysis on EWTX
Edgewise Therapeutics Stock Up 9.3%
The company's 50 day moving average price is $14.18 and its 200-day moving average price is $15.34. The stock has a market cap of $1.74 billion, a P/E ratio of -10.80 and a beta of 0.26.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, topping analysts' consensus estimates of ($0.42) by $0.08. Equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.
Insider Buying and Selling at Edgewise Therapeutics
In related news, General Counsel John R. Moore sold 2,098 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $28,092.22. Following the completion of the sale, the general counsel directly owned 10,214 shares in the company, valued at $136,765.46. This represents a 17.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Joanne M. Donovan sold 2,862 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $38,322.18. Following the transaction, the chief marketing officer directly owned 25,361 shares in the company, valued at approximately $339,583.79. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 116,267 shares of company stock valued at $1,677,815. Insiders own 23.20% of the company's stock.
Institutional Trading of Edgewise Therapeutics
Large investors have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new stake in Edgewise Therapeutics in the fourth quarter worth about $53,000. Jones Financial Companies Lllp purchased a new position in Edgewise Therapeutics during the 1st quarter worth approximately $47,000. Allostery Investments LP purchased a new position in Edgewise Therapeutics during the 1st quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd raised its position in Edgewise Therapeutics by 55.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company's stock worth $70,000 after buying an additional 1,141 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $45,000.
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.
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