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

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been assigned an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $36.6667.

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. Wall Street Zen upgraded Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research report on Sunday. Royal Bank Of Canada upped their price target on Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Piper Sandler reiterated an “overweight” rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Finally, Wedbush cut their price objective on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research report on Friday, November 7th.

Insider Buying and Selling

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the completion of the transaction, the director directly owned 19,820 shares in the company, valued at approximately $583,500.80. This represents a 85.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 23.20% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Several institutional investors have recently modified their holdings of EWTX. Y Intercept Hong Kong Ltd acquired a new stake in shares of Edgewise Therapeutics in the 3rd quarter worth $929,000. Artisan Partners Limited Partnership grew its holdings in shares of Edgewise Therapeutics by 50.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,379,068 shares of the company’s stock valued at $18,080,000 after purchasing an additional 461,846 shares during the period. Schroder Investment Management Group grew its holdings in shares of Edgewise Therapeutics by 90.9% in the second 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 during the period. Bellevue Group AG increased its position in Edgewise Therapeutics by 94.3% during the second quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock worth $36,393,000 after purchasing an additional 1,347,068 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Edgewise Therapeutics by 8.5% during the second quarter. Geode Capital Management LLC now owns 1,797,215 shares of the company’s stock worth $23,564,000 after purchasing an additional 141,551 shares during the period.

Edgewise Therapeutics Price Performance

EWTX opened at $30.01 on Friday. The firm has a fifty day moving average price of $26.29 and a 200 day moving average price of $20.07. Edgewise Therapeutics has a 1 year low of $10.60 and a 1 year high of $31.29. The stock has a market cap of $3.18 billion, a P/E ratio of -18.99 and a beta of 0.27.

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.