Edgewise Therapeutics (NASDAQ:EWTX) Stock Rating Reaffirmed by Truist Financial

Edgewise Therapeutics (NASDAQ:EWTX)‘s stock had its “buy” rating reiterated by stock analysts at Truist Financial in a note issued to investors on Wednesday, Benzinga reports. They currently have a $25.00 price objective on the stock. Truist Financial’s price target would suggest a potential upside of 61.81% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wedbush reissued an “outperform” rating and set a $26.00 price target on shares of Edgewise Therapeutics in a report on Tuesday. Piper Sandler began coverage on Edgewise Therapeutics in a report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price objective on the stock.

Edgewise Therapeutics Stock Down 1.3 %

NASDAQ EWTX opened at $15.45 on Wednesday. Edgewise Therapeutics has a 52-week low of $5.12 and a 52-week high of $20.69. The business’s 50-day moving average price is $17.13 and its 200 day moving average price is $11.93. The firm has a market cap of $1.44 billion, a P/E ratio of -9.78 and a beta of 0.14.

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). As a group, analysts anticipate that Edgewise Therapeutics will post -1.76 earnings per share for the current year.

Insider Transactions at Edgewise Therapeutics

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 stock was sold at an average price of $20.01, for a total transaction of $92,046.00. Following the sale, the insider now owns 7,020 shares of the company’s stock, valued at approximately $140,470.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Edgewise Therapeutics news, CFO R Michael Carruthers sold 90,000 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $15.78, for a total value of $1,420,200.00. Following the completion of the transaction, the chief financial officer now directly owns 29,024 shares in the company, valued at approximately $457,998.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Behrad Derakhshan sold 4,600 shares of the business’s stock in a transaction 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 owns 7,020 shares of the company’s stock, valued at $140,470.20. The disclosure for this sale can be found here. Insiders have sold 120,622 shares of company stock valued at $2,032,766 in the last quarter. 31.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of EWTX. Legal & General Group Plc increased 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 buying an additional 1,060 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Edgewise Therapeutics by 395.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 6,056 shares of the company’s stock worth $35,000 after purchasing an additional 4,833 shares during the period. Royal Bank of Canada boosted 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 during the period. China Universal Asset Management Co. Ltd. boosted 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 during the period. Finally, Principal Financial Group Inc. boosted its position in Edgewise Therapeutics by 11.2% during the 1st quarter. Principal Financial Group Inc. now owns 12,178 shares of the company’s stock worth $81,000 after purchasing an additional 1,230 shares during the period.

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.