Edgewise Therapeutics (NASDAQ:EWTX) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of Edgewise Therapeutics (NASDAQ:EWTX – Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

EWTX has been the topic of several other reports. Piper Sandler reissued an “overweight” rating on shares of Edgewise Therapeutics in a research note on Monday, February 9th. JPMorgan Chase & Co. boosted their target price on Edgewise Therapeutics from $33.00 to $34.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Evercore restated an “outperform” rating and set a $45.00 price target on shares of Edgewise Therapeutics in a report on Thursday. Royal Bank Of Canada lifted their price objective on shares of Edgewise Therapeutics from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Friday, November 7th. Finally, Stifel Nicolaus set a $25.00 price objective on shares of Edgewise Therapeutics in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.36.

Get Our Latest Stock Report on Edgewise Therapeutics

Edgewise Therapeutics Stock Down 2.4%

Edgewise Therapeutics stock opened at $29.70 on Friday. Edgewise Therapeutics has a 52-week low of $10.60 and a 52-week high of $31.82. The firm’s fifty day moving average is $27.80 and its 200 day moving average is $21.38. The company has a market cap of $3.19 billion, a price-to-earnings ratio of -18.22 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.04). On average, equities research analysts anticipate that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Badreddin Edris sold 115,471 shares of the company’s stock in a transaction dated Wednesday, January 21st. The shares were 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 $583,500.80. This represents a 85.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EWTX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Edgewise Therapeutics by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company’s stock worth $963,000 after buying an additional 2,463 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Edgewise Therapeutics in the first quarter valued at about $47,000. Goldman Sachs Group Inc. lifted its stake in Edgewise Therapeutics by 5.7% in the first quarter. Goldman Sachs Group Inc. now owns 366,644 shares of the company’s stock worth $8,066,000 after acquiring an additional 19,753 shares during the period. Strs Ohio bought a new position in Edgewise Therapeutics during the 1st quarter worth about $84,000. Finally, AlphaQuest LLC increased its position in Edgewise Therapeutics by 128.6% during the 2nd quarter. AlphaQuest LLC now owns 21,390 shares of the company’s stock valued at $280,000 after purchasing an additional 12,032 shares during the period.

Edgewise Therapeutics Company Profile

(Get Free Report)

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.

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