Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Consensus Rating of “Moderate Buy” by Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $36.00.

Several analysts have commented on EWTX shares. JPMorgan Chase & Co. raised their price objective on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Wedbush reduced their target price on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada raised their target price on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen lowered Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, The Goldman Sachs Group started coverage on Edgewise Therapeutics in a research note on Thursday, September 25th. They issued a “neutral” rating and a $20.00 price target on the stock.

Insider Transactions at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the sale, the insider owned 23,400 shares of the company’s stock, valued at $494,208. The trade was a 81.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan C. Fox acquired 10,700 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was acquired at an average price of $18.64 per share, for a total transaction of $199,448.00. Following the acquisition, the director owned 23,702 shares of the company’s stock, valued at approximately $441,805.28. This trade represents a 82.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 23.20% of the stock is owned by corporate insiders.

Institutional Trading of Edgewise Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in Edgewise Therapeutics by 1,170.3% during the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock valued at $38,000 after buying an additional 2,165 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Edgewise Therapeutics in the second quarter worth $45,000. Jones Financial Companies Lllp purchased a new stake in shares of Edgewise Therapeutics in the first quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Edgewise Therapeutics by 28.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock valued at $53,000 after acquiring an additional 894 shares in the last quarter. Finally, Allostery Investments LP purchased a new position in shares of Edgewise Therapeutics in the 1st quarter worth about $66,000.

Edgewise Therapeutics Trading Down 3.4%

Shares of Edgewise Therapeutics stock opened at $26.35 on Friday. Edgewise Therapeutics has a 12-month low of $10.60 and a 12-month high of $30.48. The company has a market cap of $2.79 billion, a P/E ratio of -16.68 and a beta of 0.26. The company’s fifty day simple moving average is $21.30 and its two-hundred day simple moving average is $16.77.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.01. Analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.