Edgewise Therapeutics (NASDAQ:EWTX) Price Target Raised to $45.00 at Wedbush

Edgewise Therapeutics (NASDAQ:EWTX) had its price target increased by Wedbush from $44.00 to $45.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on the stock. Piper Sandler increased their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Truist Financial raised their price target on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $38.40.

Edgewise Therapeutics Stock Up 2.7 %

Shares of NASDAQ EWTX traded up $0.95 during trading on Friday, hitting $36.38. 626,596 shares of the company traded hands, compared to its average volume of 900,012. Edgewise Therapeutics has a 1 year low of $5.12 and a 1 year high of $37.29. The company has a 50-day moving average price of $27.95 and a 200-day moving average price of $21.73.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. On average, analysts anticipate that Edgewise Therapeutics will post -1.47 EPS for the current year.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 75,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.27, for a total value of $2,120,250.00. Following the transaction, the insider now owns 12,719 shares in the company, valued at approximately $359,566.13. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO R Michael Carruthers sold 125,092 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $28.57, for a total value of $3,573,878.44. Following the completion of the transaction, the chief financial officer now owns 6,904 shares of the company’s stock, valued at approximately $197,247.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alan J. Russell sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares of the company’s stock, valued at $359,566.13. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock worth $7,893,316 over the last quarter. 24.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors have recently modified their holdings of the stock. Quest Partners LLC boosted its stake in shares of Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter valued at $35,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after buying an additional 604 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of Edgewise Therapeutics by 37.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after buying an additional 1,561 shares during the period. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at $161,000.

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.