Edgewise Therapeutics’ (EWTX) Buy Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a report released on Wednesday morning, Benzinga reports. Truist Financial currently has a $25.00 price target on the stock.

Several other analysts also recently commented on the stock. Piper Sandler assumed coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They set an overweight rating and a $48.00 target price for the company. Wedbush reiterated an outperform rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday.

Edgewise Therapeutics Price Performance

Shares of EWTX opened at $15.65 on Wednesday. The firm has a 50-day moving average of $17.21 and a 200-day moving average of $11.91. Edgewise Therapeutics has a one year low of $5.12 and a one year high of $20.69. The company has a market cap of $1.46 billion, a PE ratio of -9.91 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). Analysts expect that Edgewise Therapeutics will post -1.76 earnings per share for the current year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 4,600 shares of Edgewise Therapeutics stock in a transaction dated Thursday, February 8th. The shares were 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 owns 7,020 shares in the company, valued at approximately $140,470.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Behrad Derakhshan sold 4,600 shares of the business’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 value of $92,046.00. Following the completion of the transaction, the insider now directly owns 7,020 shares in the company, valued at approximately $140,470.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO R Michael Carruthers sold 90,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $15.78, for a total transaction of $1,420,200.00. Following the completion of the transaction, the chief financial officer now owns 29,024 shares of the company’s stock, valued at $457,998.72. The disclosure for this sale can be found here. Insiders sold 120,622 shares of company stock worth $2,032,766 in the last quarter. 31.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Edgewise Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its position in shares of Edgewise Therapeutics by 41.2% in the 4th quarter. Legal & General Group Plc now owns 3,634 shares of the company’s stock valued at $32,000 after buying an additional 1,060 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Edgewise Therapeutics by 209.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,775 shares of the company’s stock worth $37,000 after purchasing an additional 2,555 shares in the last quarter. Royal Bank of Canada increased its position in Edgewise Therapeutics by 82.8% during the 2nd quarter. Royal Bank of Canada now owns 5,164 shares of the company’s stock worth $40,000 after purchasing an additional 2,339 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Edgewise Therapeutics by 349.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after purchasing an additional 5,704 shares in the last quarter. Finally, AJOVista LLC acquired a new position in Edgewise Therapeutics during the 4th quarter worth approximately $84,000.

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.