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

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are covering the stock, Marketbeat 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 12 month target price among brokers that have issued a report on the stock in the last year is $36.00.

A number of research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of Edgewise Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. The Goldman Sachs Group began coverage on Edgewise Therapeutics in a report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price target for the company. Wedbush dropped their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, Royal Bank Of Canada raised their target price on Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th.

Insider Activity at Edgewise Therapeutics

In related news, Director Jonathan C. Fox bought 10,700 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were acquired at an average cost of $18.64 per share, with a total value of $199,448.00. Following the completion of the purchase, the director directly owned 23,702 shares in the company, valued at $441,805.28. The trade was a 82.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $21.12, for a total transaction of $2,112,000.00. Following the completion of 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 SEC filing for this sale provides additional information. Company insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in EWTX. Artisan Partners Limited Partnership increased its holdings in shares of Edgewise Therapeutics by 50.4% during the second quarter. Artisan Partners Limited Partnership now owns 1,379,068 shares of the company’s stock valued at $18,080,000 after acquiring an additional 461,846 shares in the last quarter. Schroder Investment Management Group increased its stake in Edgewise Therapeutics by 90.9% during the 2nd quarter. Schroder Investment Management Group now owns 151,062 shares of the company’s stock valued at $1,980,000 after purchasing an additional 71,911 shares in the last quarter. Aberdeen Group plc raised its holdings in Edgewise Therapeutics by 41.6% during the second quarter. Aberdeen Group plc now owns 443,319 shares of the company’s stock worth $5,812,000 after buying an additional 130,294 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Edgewise Therapeutics by 8.5% in the second quarter. Geode Capital Management LLC now owns 1,797,215 shares of the company’s stock valued at $23,564,000 after buying an additional 141,551 shares in the last quarter. Finally, Bellevue Group AG lifted its stake in shares of Edgewise Therapeutics by 94.3% in the second quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock valued at $36,393,000 after buying an additional 1,347,068 shares in the last quarter.

Edgewise Therapeutics Trading Up 4.9%

Shares of EWTX stock opened at $28.73 on Wednesday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of -18.18 and a beta of 0.27. The stock has a 50-day moving average of $24.15 and a 200-day moving average of $18.15. Edgewise Therapeutics has a 1-year low of $10.60 and a 1-year high of $30.48.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Sell-side analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current year.

About Edgewise Therapeutics

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.