Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Free Report)’s stock price gapped up prior to trading on Monday after Royal Bank of Canada raised their price target on the stock from $28.00 to $32.00. The stock had previously closed at $15.23, but opened at $15.93. Royal Bank of Canada currently has an outperform rating on the stock. Edgewise Therapeutics shares last traded at $15.13, with a volume of 54,698 shares.
EWTX has been the topic of a number of other research reports. Wedbush restated an “outperform” rating and issued a $26.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, April 16th. Truist Financial reissued a “buy” rating and issued a $25.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Finally, Piper Sandler assumed coverage on Edgewise Therapeutics in a research report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Buy” and a consensus price target of $31.20.
View Our Latest Analysis on Edgewise Therapeutics
Insider Activity at Edgewise Therapeutics
Institutional Investors Weigh In On Edgewise Therapeutics
Several hedge funds have recently added to or reduced their stakes in EWTX. SG Americas Securities LLC bought a new stake in Edgewise Therapeutics during the third quarter worth about $107,000. New York State Common Retirement Fund increased its holdings in shares of Edgewise Therapeutics by 228.6% in the third quarter. New York State Common Retirement Fund now owns 43,871 shares of the company’s stock worth $251,000 after buying an additional 30,522 shares during the period. Pale Fire Capital SE purchased a new position in shares of Edgewise Therapeutics in the third quarter worth about $90,000. Corton Capital Inc. purchased a new position in shares of Edgewise Therapeutics in the third quarter worth about $98,000. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Edgewise Therapeutics by 3.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock worth $670,000 after buying an additional 3,900 shares during the period.
Edgewise Therapeutics Stock Up 3.8 %
The stock has a market cap of $1.46 billion, a PE ratio of -9.91 and a beta of 0.14. The company has a fifty day moving average price of $16.90 and a 200 day moving average price of $12.20.
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.03). As a group, research analysts predict that Edgewise Therapeutics, Inc. will post -1.76 earnings per share for the current year.
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.
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