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

Stifel Nicolaus began coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued a hold rating and a $30.00 price objective on the stock.

EWTX has been the subject of several other reports. Piper Sandler lifted their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Evercore ISI boosted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Truist Financial raised their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Wedbush upped their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.29.

Edgewise Therapeutics Stock Down 0.9 %

Shares of Edgewise Therapeutics stock opened at $27.14 on Wednesday. The company’s fifty day simple moving average is $29.37 and its two-hundred day simple moving average is $26.15. Edgewise Therapeutics has a 12-month low of $14.90 and a 12-month high of $38.12. The firm has a market cap of $2.57 billion, a PE ratio of -18.09 and a beta of 0.20.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.01. As a group, sell-side analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of Edgewise Therapeutics stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the transaction, the insider now owns 14,863 shares of the company’s stock, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Marc Semigran sold 29,709 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total transaction of $882,060.21. Following the completion of the transaction, the insider now owns 6,716 shares of the company’s stock, valued at approximately $199,398.04. The trade was a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.11% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in Edgewise Therapeutics by 21.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after acquiring an additional 604 shares during the period. Meeder Asset Management Inc. raised its stake in Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after purchasing an additional 1,361 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Edgewise Therapeutics in the 3rd quarter worth approximately $161,000. Dark Forest Capital Management LP bought a new position in Edgewise Therapeutics in the 2nd quarter worth approximately $193,000. Finally, Profund Advisors LLC purchased a new stake in Edgewise Therapeutics during the 2nd quarter valued at approximately $205,000.

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.