Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Given Average Rating of “Moderate Buy” by Analysts

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $36.6667.

Several equities analysts recently issued reports on the stock. Wedbush dropped their target price on shares of Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Friday, November 7th. Royal Bank Of Canada boosted their price objective on Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. lifted their target price on Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday.

Insider Activity at Edgewise Therapeutics

In other news, Director Badreddin Edris sold 115,471 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $29.44, for a total transaction of $3,399,466.24. Following the transaction, the director owned 19,820 shares of the company’s stock, valued at $583,500.80. This represents a 85.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alan J. Russell sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $21.12, for a total value of $2,112,000.00. Following the completion of the sale, the insider owned 23,400 shares of the company’s stock, valued at approximately $494,208. This represents a 81.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 23.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EWTX. Orbimed Advisors LLC grew its stake in Edgewise Therapeutics by 3.3% in the second quarter. Orbimed Advisors LLC now owns 15,518,492 shares of the company’s stock valued at $203,447,000 after acquiring an additional 496,771 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Edgewise Therapeutics by 5.3% in the 3rd quarter. RA Capital Management L.P. now owns 10,428,437 shares of the company’s stock worth $169,149,000 after purchasing an additional 525,804 shares in the last quarter. Paradigm Biocapital Advisors LP grew its position in Edgewise Therapeutics by 0.5% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,170,131 shares of the company’s stock valued at $100,080,000 after purchasing an additional 27,787 shares during the period. Braidwell LP increased its stake in Edgewise Therapeutics by 111.9% during the 2nd quarter. Braidwell LP now owns 5,210,831 shares of the company’s stock valued at $68,314,000 after purchasing an additional 2,752,023 shares in the last quarter. Finally, Bellevue Group AG increased its stake in Edgewise Therapeutics by 94.3% during the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock valued at $36,393,000 after purchasing an additional 1,347,068 shares in the last quarter.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $28.61 on Wednesday. The company has a market capitalization of $3.03 billion, a PE ratio of -18.11 and a beta of 0.27. The company has a 50 day simple moving average of $24.62 and a two-hundred day simple moving average of $18.49. Edgewise Therapeutics has a fifty-two week low of $10.60 and a fifty-two week high of $30.48.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.01. Research analysts predict that Edgewise Therapeutics will post -1.45 EPS for the current 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.