Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report)'s share price was up 7.9% during trading on Wednesday . The stock traded as high as $13.93 and last traded at $14.06. Approximately 291,989 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,186,787 shares. The stock had previously closed at $13.02.
Analyst Upgrades and Downgrades
EWTX has been the topic of several recent research reports. 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. Wedbush restated an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Guggenheim began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, April 30th. They set a "buy" rating and a $41.00 target price on the stock. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Finally, HC Wainwright initiated coverage on Edgewise Therapeutics in a research note on Monday, June 30th. They issued a "buy" rating and a $42.00 price objective on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.00.
Check Out Our Latest Stock Report on EWTX
Edgewise Therapeutics Price Performance
The stock's 50 day simple moving average is $14.41 and its two-hundred day simple moving average is $20.10. The company has a market capitalization of $1.46 billion, a P/E ratio of -8.93 and a beta of 0.25.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.02. As a group, equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Alan J. Russell sold 1,551 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $25,513.95. Following the sale, the insider owned 18,521 shares of the company's stock, valued at approximately $304,670.45. This trade represents a 7.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Joanne M. Donovan sold 5,187 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $85,326.15. Following the completion of the transaction, the chief marketing officer directly owned 21,588 shares of the company's stock, valued at approximately $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,258 shares of company stock worth $234,544. Corporate insiders own 23.20% of the company's stock.
Institutional Trading of Edgewise Therapeutics
A number of large investors have recently bought and sold shares of the business. Diadema Partners LP bought a new stake in Edgewise Therapeutics in the 4th quarter valued at approximately $36,000. Jones Financial Companies Lllp acquired a new stake in Edgewise Therapeutics during the 1st quarter worth approximately $47,000. GF Fund Management CO. LTD. bought a new stake in Edgewise Therapeutics in the 4th quarter valued at about $53,000. Allostery Investments LP bought a new position in shares of Edgewise Therapeutics in the first quarter worth $66,000. Finally, Caitong International Asset Management Co. Ltd raised 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 in the last quarter.
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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