Edgewise Therapeutics (NASDAQ:EWTX) PT Raised to $30.00 at JPMorgan Chase & Co.

Edgewise Therapeutics (NASDAQ:EWTX) had its target price raised by JPMorgan Chase & Co. from $27.00 to $30.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also weighed in on EWTX. Royal Bank of Canada lifted their price objective on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an outperform rating in a research report on Monday, April 22nd. Piper Sandler reissued an overweight rating and issued a $48.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, July 1st. Wedbush reissued an outperform rating and issued a $31.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, June 26th. Finally, Truist Financial reissued a buy rating and issued a $25.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 17th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Edgewise Therapeutics has an average rating of Buy and a consensus price target of $33.20.

Edgewise Therapeutics Trading Up 3.8 %

Shares of EWTX opened at $22.33 on Tuesday. The company has a market capitalization of $2.09 billion, a PE ratio of -14.41 and a beta of 0.14. Edgewise Therapeutics has a 12 month low of $5.12 and a 12 month high of $23.21. The stock’s 50-day moving average price is $18.25 and its two-hundred day moving average price is $16.62.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its 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. Equities research analysts predict that Edgewise Therapeutics will post -1.59 EPS for the current fiscal year.

Insider Activity at Edgewise Therapeutics

In related news, General Counsel John R. Moore sold 1,956 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total value of $36,987.96. Following the completion of the sale, the general counsel now directly owns 3,252 shares of the company’s stock, valued at approximately $61,495.32. The sale was disclosed in a 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 Edgewise Therapeutics stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $18.91, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel John R. Moore sold 1,956 shares of Edgewise Therapeutics stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.91, for a total value of $36,987.96. Following the transaction, the general counsel now owns 3,252 shares of the company’s stock, valued at approximately $61,495.32. The disclosure for this sale can be found here. Insiders sold 12,665 shares of company stock valued at $239,495 in the last three months. Corporate insiders own 24.11% of the company’s stock.

Hedge Funds Weigh In On Edgewise Therapeutics

A number of hedge funds have recently added to or reduced their stakes in EWTX. RA Capital Management L.P. acquired a new position in Edgewise Therapeutics during the 1st quarter valued at about $162,502,000. Baker BROS. Advisors LP boosted its stake in Edgewise Therapeutics by 87.6% during the 1st quarter. Baker BROS. Advisors LP now owns 5,840,059 shares of the company’s stock valued at $106,523,000 after purchasing an additional 2,727,273 shares during the last quarter. Vanguard Group Inc. boosted its stake in Edgewise Therapeutics by 89.0% during the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company’s stock valued at $73,278,000 after purchasing an additional 1,892,053 shares during the last quarter. Frazier Life Sciences Management L.P. boosted its stake in Edgewise Therapeutics by 214.2% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 2,667,203 shares of the company’s stock valued at $29,179,000 after purchasing an additional 1,818,181 shares during the last quarter. Finally, Artal Group S.A. purchased a new position in shares of Edgewise Therapeutics in the 1st quarter worth approximately $14,806,000.

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.