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

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $41.29.

A number of equities analysts have weighed in on the stock. Wedbush upped their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Truist Financial raised their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus began coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective for the company. Finally, Evercore ISI raised their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company’s stock, valued at $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Kevin Koch sold 8,636 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the sale, the chief executive officer now owns 14,478 shares of the company’s stock, valued at approximately $434,774.34. The trade was a 37.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,545 shares of company stock valued at $4,605,305 in the last quarter. Insiders own 24.11% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. lifted its holdings in shares of Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after purchasing an additional 1,361 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Edgewise Therapeutics by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after acquiring an additional 604 shares during the period. Quantbot Technologies LP acquired a new position in shares of Edgewise Therapeutics during the fourth quarter valued at $103,000. Chicago Partners Investment Group LLC acquired a new position in shares of Edgewise Therapeutics during the third quarter valued at $161,000. Finally, KLP Kapitalforvaltning AS bought a new position in Edgewise Therapeutics in the 4th quarter worth about $182,000.

Edgewise Therapeutics Trading Down 0.7 %

NASDAQ EWTX opened at $26.16 on Wednesday. The company’s fifty day simple moving average is $28.22 and its 200-day simple moving average is $26.82. Edgewise Therapeutics has a 52 week low of $14.90 and a 52 week high of $38.12. The stock has a market cap of $2.48 billion, a P/E ratio of -17.44 and a beta of 0.20.

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.