Analysts Set Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Price Target at $36.67

Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) have been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $36.6667.

Several research analysts have recently issued reports on EWTX shares. 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 research note on Friday, November 7th. Piper Sandler reaffirmed an “overweight” rating on shares of Edgewise Therapeutics in a research report on Monday, February 9th. Wall Street Zen upgraded Edgewise Therapeutics from a “sell” rating to a “hold” rating in a research note on Sunday. 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 reaffirmed a “sell (d-)” rating on shares of Edgewise Therapeutics in a report on Wednesday, January 21st.

Insider Buying and Selling

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the company’s 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 in the company, valued at approximately $583,500.80. This represents a 85.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new stake in Edgewise Therapeutics during the third quarter valued at approximately $929,000. Artisan Partners Limited Partnership raised its position in Edgewise Therapeutics by 50.4% in the second quarter. Artisan Partners Limited Partnership now owns 1,379,068 shares of the company’s stock worth $18,080,000 after acquiring an additional 461,846 shares during the period. Schroder Investment Management Group boosted its stake in shares of Edgewise Therapeutics by 90.9% during the 2nd quarter. Schroder Investment Management Group now owns 151,062 shares of the company’s stock worth $1,980,000 after acquiring an additional 71,911 shares during the last quarter. Bellevue Group AG boosted its stake in shares of Edgewise Therapeutics by 94.3% during the 2nd quarter. Bellevue Group AG now owns 2,775,997 shares of the company’s stock worth $36,393,000 after acquiring an additional 1,347,068 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Edgewise Therapeutics by 8.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,797,215 shares of the company’s stock valued at $23,564,000 after acquiring an additional 141,551 shares during the period.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $30.08 on Friday. Edgewise Therapeutics has a 1 year low of $10.60 and a 1 year high of $31.29. The firm’s 50-day moving average is $26.55 and its 200 day moving average is $20.33. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of -19.04 and a beta of 0.27.

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.