Edgewise Therapeutics (EWTX) Projected to Post Quarterly Earnings on Thursday

Edgewise Therapeutics (NASDAQ:EWTX) will likely be releasing its earnings data before the market opens on Thursday, February 27th. Analysts expect Edgewise Therapeutics to post earnings of ($0.39) per share for the quarter.

Edgewise Therapeutics Stock Down 7.6 %

Shares of Edgewise Therapeutics stock opened at $25.01 on Tuesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -16.67 and a beta of 0.20. The business has a fifty day simple moving average of $27.44 and a 200-day simple moving average of $27.42. Edgewise Therapeutics has a fifty-two week low of $14.90 and a fifty-two week high of $38.12.

Wall Street Analyst Weigh In

EWTX has been the topic of a number of recent analyst reports. 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 report on Tuesday, December 17th. Wedbush boosted their target price 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 boosted their target price 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, Stifel Nicolaus started coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $41.29.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at $406,800.31. This represents a 87.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Koch sold 8,636 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares in the company, valued at approximately $434,774.34. The trade was a 37.36 % decrease in their ownership of the stock. 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 three months. Insiders own 24.11% of the company’s stock.

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.