Edgewise Therapeutics (NASDAQ:EWTX) Rating Reiterated by Wedbush

Wedbush restated their outperform rating on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research report sent to investors on Tuesday morning, Benzinga reports. Wedbush currently has a $26.00 price target on the stock.

Separately, Piper Sandler began coverage on shares of Edgewise Therapeutics in a research note on Thursday, March 7th. They set an overweight rating and a $48.00 price objective on the stock.

Edgewise Therapeutics Trading Down 1.4 %

EWTX stock opened at $15.23 on Tuesday. The stock’s 50 day simple moving average is $17.04 and its 200 day simple moving average is $12.00. Edgewise Therapeutics has a 12-month low of $5.12 and a 12-month high of $20.69. The firm has a market cap of $1.42 billion, a P/E ratio of -9.64 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX) last released its earnings results on Thursday, February 22nd. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.03). On average, research analysts forecast that Edgewise Therapeutics will post -1.76 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Behrad Derakhshan sold 4,600 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00. Following the completion of the transaction, the insider now owns 7,020 shares in the company, valued at $140,470.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Edgewise Therapeutics news, General Counsel John R. Moore sold 8,029 shares of Edgewise Therapeutics stock in a transaction on Friday, February 9th. The stock was sold at an average price of $20.01, for a total transaction of $160,660.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Behrad Derakhshan sold 4,600 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $20.01, for a total transaction of $92,046.00. Following the completion of the transaction, the insider now owns 7,020 shares of the company’s stock, valued at approximately $140,470.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,622 shares of company stock worth $2,032,766. 31.95% of the stock is owned by insiders.

Institutional Trading of Edgewise Therapeutics

Institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Edgewise Therapeutics by 9.2% in the 2nd quarter. BlackRock Inc. now owns 3,134,168 shares of the company’s stock valued at $24,290,000 after acquiring an additional 263,161 shares during the last quarter. FMR LLC boosted its holdings in Edgewise Therapeutics by 11.7% during the second quarter. FMR LLC now owns 2,815,284 shares of the company’s stock worth $22,410,000 after buying an additional 293,834 shares in the last quarter. Frazier Life Sciences Management L.P. grew its position in Edgewise Therapeutics by 214.2% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock worth $29,179,000 after buying an additional 1,818,181 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Edgewise Therapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 2,125,380 shares of the company’s stock valued at $23,252,000 after buying an additional 60,959 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Edgewise Therapeutics by 132.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,753,849 shares of the company’s stock valued at $13,592,000 after acquiring an additional 999,710 shares during the last quarter.

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.