Edgewise Therapeutics (NASDAQ:EWTX) Given Buy Rating at Truist Financial

Edgewise Therapeutics (NASDAQ:EWTX)‘s stock had its “buy” rating reaffirmed by equities researchers at Truist Financial in a research note issued on Wednesday, Benzinga reports. They currently have a $25.00 price target on the stock. Truist Financial’s target price indicates a potential upside of 59.34% from the stock’s current price.

A number of other analysts have also recently commented on EWTX. Wedbush restated an “outperform” rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday. Piper Sandler initiated coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They issued an “overweight” rating and a $48.00 price target for the company.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX traded down $0.94 during trading hours on Wednesday, reaching $15.69. The company had a trading volume of 434,363 shares, compared to its average volume of 946,975. The firm has a market cap of $1.46 billion, a PE 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 business’s 50 day moving average price is $17.30 and its 200-day moving average price is $11.88.

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

Insider Buying and Selling

In other news, Director Peter A. Thompson bought 454,545 shares of Edgewise Therapeutics stock in a transaction on Tuesday, January 23rd. The stock was acquired at an average price of $11.00 per share, with a total value of $4,999,995.00. Following the completion of the acquisition, the director now directly owns 14,436,497 shares of the company’s stock, valued at $158,801,467. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Edgewise Therapeutics news, Director Peter A. Thompson bought 454,545 shares of the stock in a transaction on Tuesday, January 23rd. The shares were bought at an average price of $11.00 per share, with a total value of $4,999,995.00. Following the purchase, the director now directly owns 14,436,497 shares in the company, valued at approximately $158,801,467. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO R Michael Carruthers sold 90,000 shares of the company’s stock in a transaction on 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 approximately $457,998.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,622 shares of company stock worth $2,032,766. Insiders own 31.95% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Edgewise Therapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 2,125,380 shares of the company’s stock valued at $23,252,000 after purchasing an additional 60,959 shares in the last quarter. Virtu Financial LLC acquired a new position in Edgewise Therapeutics during the fourth quarter worth $263,000. Perceptive Advisors LLC purchased a new stake in Edgewise Therapeutics in the 4th quarter valued at $6,078,000. GSA Capital Partners LLP grew its holdings in Edgewise Therapeutics by 19.8% in the 4th quarter. GSA Capital Partners LLP now owns 52,660 shares of the company’s stock valued at $576,000 after buying an additional 8,696 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Edgewise Therapeutics by 371.9% in the 4th quarter. Legal & General Group Plc now owns 16,657 shares of the company’s stock worth $182,000 after acquiring an additional 13,127 shares during the last quarter.

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.