Edgewise Therapeutics (NASDAQ:EWTX) Trading 4% Higher

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $31.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday. Truist Financial reaffirmed a “buy” rating and set a $25.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, April 17th. Piper Sandler started coverage on shares of Edgewise Therapeutics in a report on Thursday, March 7th. They set an “overweight” rating and a $48.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics has an average rating of “Buy” and a consensus price target of $32.20.

Edgewise Therapeutics Trading Up 2.9 %

The company has a market cap of $1.68 billion, a PE ratio of -11.62 and a beta of 0.13. The firm’s fifty day moving average is $17.66 and its 200 day moving average is $15.93.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.06. As a group, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.

Insider Buying and Selling

In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 1,718 shares of Edgewise Therapeutics stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $32,487.38. Following the sale, the insider now owns 13,422 shares of the company’s stock, valued at approximately $253,810.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Edgewise Therapeutics news, insider Behrad Derakhshan sold 1,718 shares of Edgewise Therapeutics stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total transaction of $32,487.38. Following the sale, the insider now owns 13,422 shares of the company’s stock, valued at approximately $253,810.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO R Michael Carruthers sold 2,157 shares of Edgewise Therapeutics stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction of $40,788.87. Following the sale, the chief financial officer now directly owns 35,230 shares in the company, valued at approximately $666,199.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,665 shares of company stock valued at $239,495. 24.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

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.