Edgewise Therapeutics (NASDAQ:EWTX) Earns Outperform Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a report published on Tuesday, Benzinga reports. They currently have a $26.00 price objective on the stock.

Separately, Piper Sandler began coverage on Edgewise Therapeutics in a report on Thursday, March 7th. They issued an overweight rating and a $48.00 target price on the stock.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock opened at $15.23 on Tuesday. Edgewise Therapeutics has a 52-week low of $5.12 and a 52-week high of $20.69. The stock has a fifty day moving average price of $17.04 and a two-hundred day moving average price of $12.00. The firm has a market capitalization of $1.42 billion, a P/E ratio of -9.64 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). On average, equities research analysts predict that Edgewise Therapeutics will post -1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Behrad Derakhshan sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00. Following the transaction, the insider now directly owns 7,020 shares in the company, valued at $140,470.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $20.01, for a total value of $92,046.00. Following the completion of the sale, the insider now directly owns 7,020 shares of the company’s stock, valued at approximately $140,470.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel John R. Moore sold 8,029 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $20.01, for a total value of $160,660.29. The disclosure for this sale can be found here. Insiders have sold a total of 120,622 shares of company stock valued at $2,032,766 in the last 90 days. 31.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EWTX. Denali Advisors LLC bought a new stake in shares of Edgewise Therapeutics during the first quarter worth approximately $350,000. Vanguard Group Inc. raised its position in shares of Edgewise Therapeutics by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 2,125,380 shares of the company’s stock valued at $23,252,000 after acquiring an additional 60,959 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Edgewise Therapeutics in the 4th quarter valued at $263,000. Perceptive Advisors LLC bought a new position in shares of Edgewise Therapeutics in the 4th quarter worth $6,078,000. Finally, GSA Capital Partners LLP grew its stake in shares of Edgewise Therapeutics by 19.8% during the fourth quarter. GSA Capital Partners LLP now owns 52,660 shares of the company’s stock worth $576,000 after purchasing an additional 8,696 shares during the period.

Edgewise Therapeutics Company Profile

Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.