Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Receives $38.44 Average PT from Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.4444.

EWTX has been the subject of several research analyst reports. Evercore reissued an “outperform” rating and issued a $45.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Stifel Nicolaus set a $25.00 target price on shares of Edgewise Therapeutics in a research report on Thursday, February 26th. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Raymond James Financial set a $46.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, March 10th. Finally, Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, March 17th.

Insider Activity

In other news, CMO Joanne M. Donovan sold 28,662 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $32.31, for a total value of $926,069.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Badreddin Edris sold 115,471 shares of the business’s stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the completion of the sale, the director directly owned 19,820 shares of the company’s stock, valued at $583,500.80. The trade was a 85.35% decrease in their position. The SEC filing for this sale provides additional information. 23.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Aberdeen Group plc boosted its holdings in shares of Edgewise Therapeutics by 39.8% in the 3rd quarter. Aberdeen Group plc now owns 619,878 shares of the company’s stock valued at $10,054,000 after buying an additional 176,559 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Edgewise Therapeutics in the 3rd quarter valued at about $929,000. HighVista Strategies LLC boosted its holdings in shares of Edgewise Therapeutics by 198.5% in the 3rd quarter. HighVista Strategies LLC now owns 208,101 shares of the company’s stock valued at $3,375,000 after buying an additional 138,378 shares during the period. GSA Capital Partners LLP boosted its holdings in shares of Edgewise Therapeutics by 315.2% in the 3rd quarter. GSA Capital Partners LLP now owns 113,243 shares of the company’s stock valued at $1,837,000 after buying an additional 85,967 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Edgewise Therapeutics by 797.9% in the 4th quarter. SG Americas Securities LLC now owns 88,723 shares of the company’s stock valued at $2,202,000 after buying an additional 78,842 shares during the period.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock opened at $33.04 on Monday. Edgewise Therapeutics has a 12-month low of $10.77 and a 12-month high of $34.00. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -20.27 and a beta of 0.24. The firm’s fifty day moving average price is $30.17 and its 200 day moving average price is $24.38.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.04). Analysts forecast that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal 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.