Edgewise Therapeutics (NASDAQ:EWTX) Reaches New 1-Year High at $20.90

Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $20.90 and last traded at $19.13, with a volume of 749930 shares. The stock had previously closed at $17.94.

Analyst Ratings Changes

EWTX has been the topic of a number of recent research reports. Piper Sandler initiated coverage on Edgewise Therapeutics in a research note on Thursday, March 7th. They set an "overweight" rating and a $48.00 target price on the stock. Royal Bank of Canada increased their target price on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, April 22nd. Wedbush reiterated an "outperform" rating and set a $26.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Finally, Truist Financial reiterated a "buy" rating and set a $25.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $31.20.

Edgewise Therapeutics Trading Up 6.0 %

The stock has a 50 day simple moving average of $16.79 and a 200 day simple moving average of $12.55. The stock has a market cap of $1.77 billion, a P/E ratio of -12.03 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.03). Equities analysts anticipate that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $20.01, for a total value of $92,046.00. Following the transaction, the insider now owns 7,020 shares in the company, valued at approximately $140,470.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel John R. Moore sold 8,029 shares of Edgewise Therapeutics stock in a transaction on Friday, February 9th. The stock was sold at an average price of $20.01, for a total value of $160,660.29. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $20.01, for a total value of $92,046.00. Following the completion of the transaction, the insider now owns 7,020 shares in the company, valued at approximately $140,470.20. The disclosure for this sale can be found here. Insiders have sold a total of 30,622 shares of company stock worth $612,566 in the last 90 days. Company insiders own 31.95% of the company's stock.

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of EWTX. New York State Common Retirement Fund boosted its holdings in shares of Edgewise Therapeutics by 228.6% during the 3rd quarter. New York State Common Retirement Fund now owns 43,871 shares of the company's stock valued at $251,000 after acquiring an additional 30,522 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Edgewise Therapeutics by 3.5% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company's stock valued at $670,000 after acquiring an additional 3,900 shares in the last quarter. abrdn plc acquired a new stake in shares of Edgewise Therapeutics during the 4th quarter valued at $1,646,000. SG Americas Securities LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at $107,000. Finally, China Universal Asset Management Co. Ltd. boosted its holdings in shares of Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company's stock valued at $80,000 after acquiring an additional 5,704 shares in the last quarter.

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.