Edgewise Therapeutics (NASDAQ:EWTX) Coverage Initiated by Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued a hold rating and a $30.00 price target on the stock.

Several other research firms have also recently commented on EWTX. Evercore ISI boosted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Wedbush boosted their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Truist Financial boosted their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $41.29.

Edgewise Therapeutics Price Performance

Shares of NASDAQ:EWTX opened at $28.30 on Wednesday. The firm’s 50-day moving average is $29.19 and its two-hundred day moving average is $26.21. Edgewise Therapeutics has a 1 year low of $14.90 and a 1 year high of $38.12. The firm has a market capitalization of $2.68 billion, a PE ratio of -18.87 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.01. Analysts expect that Edgewise Therapeutics will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Marc Semigran sold 29,709 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the completion of the transaction, the insider now owns 6,716 shares in the company, valued at approximately $199,398.04. This represents a 81.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the sale, the insider now owns 14,863 shares in the company, valued at $406,800.31. This represents a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.11% of the stock is currently owned by insiders.

Institutional Trading of Edgewise Therapeutics

A number of large investors have recently made changes to their positions in the company. Novo Holdings A S purchased a new stake in Edgewise Therapeutics in the second quarter valued at approximately $114,263,000. Janus Henderson Group PLC increased its holdings in shares of Edgewise Therapeutics by 74.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock valued at $121,616,000 after acquiring an additional 1,951,220 shares during the period. Frazier Life Sciences Management L.P. raised its position in Edgewise Therapeutics by 12.9% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock valued at $67,197,000 after purchasing an additional 427,500 shares during the last quarter. Braidwell LP acquired a new stake in Edgewise Therapeutics during the 3rd quarter worth $52,267,000. Finally, State Street Corp grew its position in Edgewise Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company’s stock worth $44,976,000 after purchasing an additional 20,020 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.