Weiss Ratings Reaffirms "Sell (D-)" Rating for Edgewise Therapeutics (NASDAQ:EWTX)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D-)" rating for Edgewise Therapeutics (NASDAQ: EWTX) in a recent research note.
• Edgewise's stock has a consensus rating of "Moderate Buy" with a target price of $38.83, while several analysts have given varied ratings ranging from "Strong Buy" to "Neutral."
• Insiders have sold a total of 116,267 shares of the company, indicating potential concerns among company executives regarding stock performance.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report)'s stock had its "sell (d-)" rating reissued by Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Edgewise Therapeutics in a research note on Thursday, September 25th. They set a "neutral" rating and a $20.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 target price for the company. Royal Bank Of Canada upped their target price on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, August 19th. Finally, HC Wainwright began coverage on shares of Edgewise Therapeutics in a research report on Monday, June 30th. They issued a "buy" rating and a $42.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.83.

Edgewise Therapeutics Stock Performance

Shares of Edgewise Therapeutics stock traded up $0.21 during trading on Wednesday, reaching $15.35. The company had a trading volume of 1,162,556 shares, compared to its average volume of 971,334. The company has a market cap of $1.62 billion, a price-to-earnings ratio of -9.90 and a beta of 0.28. The firm's fifty day moving average is $14.54 and its 200-day moving average is $14.65. Edgewise Therapeutics has a fifty-two week low of $10.60 and a fifty-two week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.08. On average, research analysts anticipate that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 2,098 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total value of $28,092.22. Following the completion of the sale, the general counsel 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Joanne M. Donovan sold 2,862 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $38,322.18. Following the completion of the sale, the chief marketing officer owned 25,361 shares of the company's stock, valued at approximately $339,583.79. The trade was a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 116,267 shares of company stock worth $1,677,815 in the last quarter. Insiders own 23.20% of the company's stock.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EWTX. Canada Pension Plan Investment Board acquired a new position in shares of Edgewise Therapeutics during the 2nd quarter worth $45,000. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Edgewise Therapeutics by 28.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company's stock worth $53,000 after purchasing an additional 894 shares during the last quarter. Allostery Investments LP acquired a new position in shares of Edgewise Therapeutics during the 1st quarter worth $66,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of 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 purchasing an additional 1,141 shares during the last quarter.

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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