Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have received an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $50.3333.

Several research analysts have recently commented on EWTX shares. Wall Street Zen raised Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. Evercore reiterated an “outperform” rating and issued a $55.00 target price on shares of Edgewise Therapeutics in a research report on Monday, July 20th. HC Wainwright restated a “buy” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, June 16th. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $53.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $66.00 target price on shares of Edgewise Therapeutics in a research report on Monday, June 1st.

Insider Buying and Selling

In other Edgewise Therapeutics news, insider Alan Russell sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $39.41, for a total transaction of $7,882,000.00. Following the sale, the insider directly owned 24,555 shares of the company’s stock, valued at $967,712.55. The trade was a 89.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel John R. Moore sold 5,016 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $43.82, for a total value of $219,801.12. Following the sale, the general counsel owned 17,697 shares in the company, valued at approximately $775,482.54. This trade represents a 22.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 238,329 shares of company stock worth $9,557,529. Insiders own 21.30% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors have recently bought and sold shares of EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Edgewise Therapeutics by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock valued at $963,000 after acquiring an additional 2,463 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Edgewise Therapeutics in the 1st quarter worth about $47,000. Goldman Sachs Group Inc. lifted its holdings in shares of Edgewise Therapeutics by 5.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after acquiring an additional 19,753 shares during the last quarter. Strs Ohio purchased a new position in shares of Edgewise Therapeutics during the 1st quarter worth about $84,000. Finally, Creative Planning boosted its stake in shares of Edgewise Therapeutics by 29.4% during the 2nd quarter. Creative Planning now owns 16,910 shares of the company’s stock worth $222,000 after purchasing an additional 3,837 shares during the period.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $43.07 on Thursday. Edgewise Therapeutics has a 1 year low of $13.69 and a 1 year high of $48.40. The stock’s fifty day moving average price is $42.25 and its 200-day moving average price is $36.25. The company has a market cap of $4.68 billion, a P/E ratio of -23.28 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.06). On average, sell-side analysts anticipate that Edgewise Therapeutics will post -2.09 earnings per share for the current year.

Edgewise Therapeutics Company Profile

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.