Edgewise Therapeutics (NASDAQ:EWTX) Coverage Initiated at Guggenheim

Equities research analysts at Guggenheim initiated coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) in a report issued on Wednesday, MarketBeat reports. The brokerage set a "buy" rating and a $41.00 price target on the stock. Guggenheim's price target would suggest a potential upside of 142.46% from the company's previous close.

Other research analysts have also issued reports about the stock. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Royal Bank of Canada reduced their price objective on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price for the company. Piper Sandler reiterated an "overweight" rating and set a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Finally, Wedbush reissued an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.22.

Edgewise Therapeutics Stock Performance

Shares of EWTX traded up $0.23 during trading hours on Wednesday, hitting $16.91. 1,428,721 shares of the stock were exchanged, compared to its average volume of 1,155,399. The stock's 50-day moving average price is $19.32 and its two-hundred day moving average price is $26.32. Edgewise Therapeutics has a 12-month low of $10.60 and a 12-month high of $38.12. The company has a market cap of $1.77 billion, a price-to-earnings ratio of -11.27 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). 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 other Edgewise Therapeutics news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the transaction, the chief executive officer now owns 14,478 shares in the company, valued at approximately $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.11% of the stock is owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of institutional investors have recently modified their holdings of EWTX. Diadema Partners LP acquired a new position in Edgewise Therapeutics during the 4th quarter worth about $36,000. GF Fund Management CO. LTD. acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth about $53,000. Aquatic Capital Management LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $77,000. Tower Research Capital LLC TRC grew its holdings in shares of Edgewise Therapeutics by 1,097.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock valued at $98,000 after purchasing an additional 3,369 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Edgewise Therapeutics during the 4th quarter worth approximately $103,000.

Edgewise Therapeutics Company Profile

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.