Edgewise Therapeutics (NASDAQ:EWTX) Trading 4% Higher

Edgewise Therapeutics, Inc. (NASDAQ:EWTX)’s share price traded up 4% during trading on Friday . The company traded as high as $18.20 and last traded at $18.20. 18,938 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 826,690 shares. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EWTX shares. Royal Bank of Canada increased their target price on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Piper Sandler initiated coverage on Edgewise Therapeutics in a report on Thursday, March 7th. They set an “overweight” rating and a $48.00 target price for the company. Truist Financial reiterated a “buy” rating and set a $25.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Finally, Wedbush restated an “outperform” rating and set a $31.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $32.20.

Edgewise Therapeutics Trading Up 3.3 %

The stock has a fifty day moving average price of $17.61 and a two-hundred day moving average price of $15.78.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Thursday, May 9th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.06. On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.59 EPS for the current year.

Insider Activity at Edgewise Therapeutics

In related news, insider Behrad Derakhshan sold 1,718 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $32,487.38. Following the completion of the transaction, the insider now owns 13,422 shares in the company, valued at approximately $253,810.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 1,718 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $32,487.38. Following the completion of the sale, the insider now directly owns 13,422 shares in the company, valued at $253,810.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Joanne M. Donovan sold 3,682 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $69,626.62. Following the transaction, the chief marketing officer now directly owns 19,897 shares of the company’s stock, valued at $376,252.27. The disclosure for this sale can be found here. Insiders have sold a total of 12,665 shares of company stock worth $239,495 over the last ninety days. 24.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of EWTX. Quantum Private Wealth LLC grew its stake in shares of Edgewise Therapeutics by 2.4% in the 4th quarter. Quantum Private Wealth LLC now owns 63,219 shares of the company’s stock worth $692,000 after purchasing an additional 1,500 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Edgewise Therapeutics by 37.3% in the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after buying an additional 1,561 shares during the last quarter. Schonfeld Strategic Advisors LLC increased its holdings in shares of Edgewise Therapeutics by 3.5% in the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company’s stock valued at $670,000 after buying an additional 3,900 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Edgewise Therapeutics by 29.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 20,833 shares of the company’s stock worth $228,000 after acquiring an additional 4,785 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of Edgewise Therapeutics by 349.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock valued at $80,000 after purchasing an additional 5,704 shares during the period.

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.