Edgewise Therapeutics (NASDAQ:EWTX) Now Covered by Stifel Nicolaus

Equities research analysts at Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage set a “hold” rating and a $30.00 price target on the stock. Stifel Nicolaus’ target price points to a potential upside of 11.11% from the company’s current price.

Other research analysts have also issued research reports about the company. Evercore ISI lifted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Wedbush lifted their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Truist Financial lifted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Piper Sandler lifted their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One research 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $41.29.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX opened at $27.00 on Wednesday. Edgewise Therapeutics has a fifty-two week low of $14.90 and a fifty-two week high of $38.12. The firm has a market capitalization of $2.56 billion, a PE ratio of -18.00 and a beta of 0.20. The stock’s 50-day simple moving average is $29.25 and its 200-day simple moving average is $26.16.

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

Insider Activity

In related news, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the sale, the insider now directly owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Marc Semigran sold 29,709 shares of Edgewise Therapeutics stock in a transaction that occurred 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 sale, the insider now owns 6,716 shares in the company, valued at approximately $199,398.04. This trade represents a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.11% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

A number of institutional investors have recently modified their holdings of EWTX. Novo Holdings A S purchased a new stake in shares of Edgewise Therapeutics in the second quarter valued at approximately $114,263,000. Braidwell LP purchased a new stake in Edgewise Therapeutics during the third quarter worth $52,267,000. Janus Henderson Group PLC boosted its position in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after purchasing an additional 1,951,220 shares in the last quarter. Millennium Management LLC boosted its position in Edgewise Therapeutics by 115.2% during the second quarter. Millennium Management LLC now owns 1,145,506 shares of the company’s stock worth $20,631,000 after purchasing an additional 613,251 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. boosted its position in Edgewise Therapeutics by 12.9% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,731,067 shares of the company’s stock worth $67,197,000 after purchasing an additional 427,500 shares in 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.