Edgewise Therapeutics (NASDAQ:EWTX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Edgewise Therapeutics (NASDAQ:EWTX) from a sell rating to a hold rating in a report published on Friday morning.

Several other analysts have also recently commented on EWTX. Wedbush lowered their target price on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating on the stock in a research report on Friday, November 7th. JPMorgan Chase & Co. increased their price target on Edgewise Therapeutics from $33.00 to $34.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. The Goldman Sachs Group started coverage on Edgewise Therapeutics in a report on Thursday, September 25th. They set a “neutral” rating and a $20.00 price target on the stock. Royal Bank Of Canada lifted their price objective on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $36.67.

Edgewise Therapeutics Stock Down 3.9%

Shares of NASDAQ:EWTX opened at $28.61 on Friday. The company’s 50-day moving average price is $24.62 and its 200 day moving average price is $18.49. The company has a market cap of $3.03 billion, a PE ratio of -18.11 and a beta of 0.27. Edgewise Therapeutics has a fifty-two week low of $10.60 and a fifty-two week high of $30.48.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.01. As a group, equities analysts anticipate that Edgewise Therapeutics will post -1.45 EPS for the current year.

Insider Activity at Edgewise Therapeutics

In other news, Director Jonathan C. Fox bought 10,700 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was acquired at an average price of $18.64 per share, with a total value of $199,448.00. Following the completion of the purchase, the director directly owned 23,702 shares of the company’s stock, valued at $441,805.28. This represents a 82.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Badreddin Edris sold 115,471 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, January 21st. The stock was sold at an average price of $29.44, for a total value of $3,399,466.24. Following the transaction, the director directly owned 19,820 shares in the company, valued at approximately $583,500.80. The trade was a 85.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 23.20% of the company’s stock.

Institutional Trading of Edgewise Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in Edgewise Therapeutics by 2.4% during the second quarter. California State Teachers Retirement System now owns 36,878 shares of the company’s stock valued at $483,000 after purchasing an additional 850 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Edgewise Therapeutics by 28.2% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company’s stock valued at $53,000 after buying an additional 894 shares in the last quarter. HighMark Wealth Management LLC lifted its position in shares of Edgewise Therapeutics by 2.1% during the 3rd quarter. HighMark Wealth Management LLC now owns 53,179 shares of the company’s stock valued at $863,000 after acquiring an additional 1,114 shares during the last quarter. Creative Planning boosted its stake in shares of Edgewise Therapeutics by 6.7% during the 3rd quarter. Creative Planning now owns 18,036 shares of the company’s stock worth $293,000 after acquiring an additional 1,126 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Edgewise Therapeutics by 14.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,148 shares of the company’s stock worth $120,000 after acquiring an additional 1,188 shares during the last quarter.

About Edgewise Therapeutics

Edgewise Therapeutics, Inc (NASDAQ: EWTX) is a clinical-stage biopharmaceutical company headquartered in Cambridge, Massachusetts, focused on the discovery and development of precision medicines for the treatment of rare diseases. The company leverages its expertise in small-molecule chemistry and ion channel biology to address severe, unmet medical needs, particularly in the areas of kidney disorders and neuromuscular diseases.

At the core of Edgewise’s pipeline is EWTX-101, a novel, orally available inhibitor of TRPC5, a calcium channel implicated in nephrotic syndromes such as focal segmental glomerulosclerosis (FSGS) and other proteinuric kidney diseases.