Edgewise Therapeutics’ (EWTX) Outperform Rating Reiterated at Wedbush

Edgewise Therapeutics (NASDAQ:EWTX)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research note issued on Tuesday, Benzinga reports. They presently have a $26.00 price objective on the stock. Wedbush’s price target indicates a potential upside of 66.13% from the company’s current price.

Separately, Piper Sandler initiated coverage on Edgewise Therapeutics in a report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 target price on the stock.

Edgewise Therapeutics Trading Down 5.9 %

NASDAQ EWTX opened at $15.65 on Tuesday. The company has a market cap of $1.46 billion, a P/E ratio of -9.91 and a beta of 0.14. Edgewise Therapeutics has a 1 year low of $5.12 and a 1 year high of $20.69. The company has a fifty day simple moving average of $17.21 and a 200 day simple moving average of $11.91.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). Equities research analysts forecast that Edgewise Therapeutics will post -1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO R Michael Carruthers sold 90,000 shares of the company’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO R Michael Carruthers sold 90,000 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $15.78, for a total transaction of $1,420,200.00. Following the sale, the chief financial officer now directly owns 29,024 shares of the company’s stock, valued at $457,998.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Peter A. Thompson purchased 454,545 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was purchased at an average cost of $11.00 per share, with a total value of $4,999,995.00. Following the acquisition, the director now owns 14,436,497 shares in the company, valued at $158,801,467. The disclosure for this purchase can be found here. Insiders have sold 120,622 shares of company stock worth $2,032,766 in the last ninety days. Insiders own 31.95% of the company’s stock.

Institutional Investors Weigh In On Edgewise Therapeutics

Institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in shares of Edgewise Therapeutics by 41.2% during the 4th quarter. Legal & General Group Plc now owns 3,634 shares of the company’s stock worth $32,000 after acquiring an additional 1,060 shares during the period. Tower Research Capital LLC TRC lifted its stake in Edgewise Therapeutics by 209.4% during the third 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 during the period. Royal Bank of Canada boosted its holdings in Edgewise Therapeutics by 82.8% during the second quarter. Royal Bank of Canada now owns 5,164 shares of the company’s stock valued at $40,000 after purchasing an additional 2,339 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Edgewise Therapeutics by 349.1% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after purchasing an additional 5,704 shares in the last quarter. Finally, AJOVista LLC bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at approximately $84,000.

About Edgewise Therapeutics

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.