Jonathan Fox Acquires 10,700 Shares of Edgewise Therapeutics (NASDAQ:EWTX) Stock

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Director Jonathan Fox purchased 10,700 shares of the stock in a transaction dated Tuesday, November 11th. The shares were purchased at an average price of $18.64 per share, with a total value of $199,448.00. Following the transaction, the director directly owned 23,702 shares of the company’s stock, valued at approximately $441,805.28. The trade was a 82.30% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Edgewise Therapeutics Stock Up 11.4%

Edgewise Therapeutics stock opened at $22.75 on Friday. The firm has a 50-day moving average price of $16.11 and a two-hundred day moving average price of $14.93. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of -14.40 and a beta of 0.30. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $35.50.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. Research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EWTX shares. Raymond James Financial started coverage on Edgewise Therapeutics in a research note on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 target price on the stock. Royal Bank Of Canada lifted their price objective on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, October 8th. Wedbush lowered their target price on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.33.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Bessemer Group Inc. raised its position in Edgewise Therapeutics by 1,170.3% in the third quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after acquiring an additional 2,165 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Edgewise Therapeutics in the 2nd quarter worth approximately $45,000. Jones Financial Companies Lllp bought a new stake in shares of Edgewise Therapeutics in the 1st quarter worth approximately $47,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Edgewise Therapeutics by 28.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock valued at $53,000 after purchasing an additional 894 shares during the last quarter. Finally, Allostery Investments LP bought a new stake in Edgewise Therapeutics during the first quarter worth approximately $66,000.

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.