Edgewise Therapeutics (NASDAQ:EWTX) Raised to Hold at Wall Street Zen

Edgewise Therapeutics (NASDAQ:EWTX) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

Other equities analysts have also issued reports about the company. Royal Bank Of Canada boosted their price target on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Wedbush cut their target price on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $30.01 on Friday. The company has a market cap of $3.18 billion, a PE ratio of -18.99 and a beta of 0.27. The firm has a fifty day moving average price of $26.42 and a two-hundred day moving average price of $20.22. Edgewise Therapeutics has a fifty-two week low of $10.60 and a fifty-two week high of $31.29.

Insiders Place Their Bets

In other news, Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total value of $3,399,466.24. Following the completion of the transaction, the director owned 19,820 shares in the company, valued at approximately $583,500.80. The trade was 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 link. Corporate insiders own 23.20% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Several large investors have recently made changes to their positions in EWTX. Optimize Financial Inc raised its holdings in shares of Edgewise Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock valued at $687,000 after buying an additional 396 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in Edgewise Therapeutics by 23.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock valued at $71,000 after acquiring an additional 550 shares in the last quarter. California State Teachers Retirement System raised its stake in shares of Edgewise Therapeutics by 2.4% in the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after acquiring an additional 850 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Edgewise Therapeutics by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock worth $128,000 after purchasing an additional 1,072 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its position in shares of Edgewise Therapeutics by 2.1% during the third quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock worth $863,000 after purchasing an additional 1,114 shares in the last quarter.

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.