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

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, five have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $39.6667.

EWTX has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on Edgewise Therapeutics from $34.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, March 17th. Wall Street Zen lowered Edgewise Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Stifel Nicolaus set a $25.00 target price on Edgewise Therapeutics in a research note on Thursday, February 26th. Evercore restated an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a research note on Thursday, February 26th. Finally, HC Wainwright upgraded Edgewise Therapeutics to a “strong-buy” rating in a research note on Thursday, February 26th.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $38.57, for a total transaction of $1,928,500.00. Following the sale, the chief marketing officer owned 4,367 shares in the company, valued at approximately $168,435.19. The trade was a 91.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 83,892 shares of company stock worth $3,018,216 in the last 90 days. 23.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

A number of large investors have recently modified their holdings of the business. Optimize Financial Inc grew its stake in shares of Edgewise Therapeutics by 1.5% during the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock worth $687,000 after acquiring an additional 396 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Edgewise Therapeutics by 64.9% during the first quarter. Parallel Advisors LLC now owns 1,032 shares of the company’s stock worth $33,000 after acquiring an additional 406 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Edgewise Therapeutics by 23.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after acquiring an additional 550 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Edgewise Therapeutics by 2.4% during 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. Finally, AlphaCentric Advisors LLC grew its stake in shares of Edgewise Therapeutics by 6.2% during the first quarter. AlphaCentric Advisors LLC now owns 15,615 shares of the company’s stock worth $492,000 after acquiring an additional 912 shares during the last quarter.

Edgewise Therapeutics Price Performance

EWTX opened at $32.70 on Tuesday. The business’s 50-day moving average is $32.44 and its two-hundred day moving average is $28.24. Edgewise Therapeutics has a 1 year low of $12.15 and a 1 year high of $39.96. The firm has a market capitalization of $3.52 billion, a PE ratio of -19.70 and a beta of 0.25.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its earnings results on Thursday, May 7th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. As a group, sell-side analysts expect that Edgewise Therapeutics will post -2.13 EPS 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.