Edgewise Therapeutics (NASDAQ:EWTX) Coverage Initiated at Stifel Nicolaus

Equities researchers at Stifel Nicolaus started coverage on shares of Edgewise Therapeutics (NASDAQ:EWTX) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set a “hold” rating and a $30.00 price target on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 11.11% from the stock’s previous close.

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

Edgewise Therapeutics Stock Down 0.5 %

Shares of EWTX opened at $27.00 on Wednesday. Edgewise Therapeutics has a 52-week low of $14.90 and a 52-week high of $38.12. The company has a market capitalization of $2.56 billion, a PE ratio of -18.00 and a beta of 0.20. The stock has a fifty day simple moving average of $29.25 and a two-hundred day simple moving average of $26.16.

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

Insider Activity at Edgewise Therapeutics

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

Hedge Funds Weigh In On Edgewise Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after buying an additional 604 shares during the period. Meeder Asset Management Inc. raised its position in shares of Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after acquiring an additional 1,361 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Edgewise Therapeutics by 5.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock worth $2,250,000 after acquiring an additional 4,426 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter worth about $161,000. Finally, Quantum Private Wealth LLC raised its position in shares of Edgewise Therapeutics by 10.0% during the 3rd quarter. Quantum Private Wealth LLC now owns 73,424 shares of the company’s stock worth $1,960,000 after acquiring an additional 6,650 shares in 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.