Edgewise Therapeutics (NASDAQ:EWTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Edgewise Therapeutics (NASDAQ:EWTX) from a sell rating to a hold rating in a research note published on Sunday.

Other analysts have also issued research reports about the stock. Royal Bank Of Canada raised their target price on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Wedbush reduced their price target on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research note on Friday, November 7th. JPMorgan Chase & Co. lifted their price objective on Edgewise Therapeutics from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research note on Wednesday, January 21st. Finally, Piper Sandler restated an “overweight” rating on shares of Edgewise Therapeutics in a report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Edgewise Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $36.67.

Edgewise Therapeutics Trading Up 0.2%

NASDAQ:EWTX opened at $30.08 on Friday. Edgewise Therapeutics has a 12-month low of $10.60 and a 12-month high of $31.29. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -19.04 and a beta of 0.27. The company’s 50-day moving average is $26.55 and its two-hundred day moving average is $20.33.

Insider Activity at Edgewise Therapeutics

In related news, Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction on 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. The trade was a 85.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Optimize Financial Inc boosted its position in shares of Edgewise Therapeutics by 1.5% in the fourth quarter. Optimize Financial Inc now owns 27,679 shares of the company’s stock worth $687,000 after buying an additional 396 shares during the period. Steward Partners Investment Advisory LLC lifted its position in Edgewise Therapeutics by 23.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,854 shares of the company’s stock worth $71,000 after acquiring an additional 550 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Edgewise Therapeutics by 2.4% in the 2nd quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock worth $483,000 after acquiring an additional 850 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Edgewise Therapeutics by 26.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,145 shares of the company’s stock valued at $128,000 after acquiring an additional 1,072 shares in the last quarter. Finally, HighMark Wealth Management LLC raised its stake in shares of Edgewise Therapeutics by 2.1% during the third quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock valued at $863,000 after purchasing an additional 1,114 shares during the period.

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.