Edgewise Therapeutics, Inc. (NASDAQ:EWTX – Get Free Report) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 6,390,000 shares, a decrease of 12.3% from the October 31st total of 7,290,000 shares. Currently, 10.2% of the company’s stock are sold short. Based on an average daily volume of 1,110,000 shares, the days-to-cover ratio is currently 5.8 days.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Truist Financial raised their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. Piper Sandler lifted their target price on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Evercore ISI assumed coverage on Edgewise Therapeutics in a research note on Friday, November 22nd. They issued an “outperform” rating and a $45.00 price target for the company. Wedbush lifted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. increased their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $42.33.
View Our Latest Report on Edgewise Therapeutics
Insider Activity
Institutional Investors Weigh In On Edgewise Therapeutics
Several large investors have recently modified their holdings of the stock. Quest Partners LLC raised its position in shares of Edgewise Therapeutics by 156.9% during the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares during the period. Meeder Asset Management Inc. purchased a new position in Edgewise Therapeutics in the 2nd quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after buying an additional 604 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in Edgewise Therapeutics during the third quarter valued at about $161,000. Finally, US Bancorp DE boosted its holdings in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock worth $228,000 after buying an additional 8,468 shares during the period.
Edgewise Therapeutics Price Performance
NASDAQ EWTX traded up $0.80 on Friday, reaching $33.00. The company’s stock had a trading volume of 375,639 shares, compared to its average volume of 640,163. Edgewise Therapeutics has a twelve month low of $5.93 and a twelve month high of $38.12. The firm’s 50 day moving average is $31.92 and its two-hundred day moving average is $23.25.
Edgewise Therapeutics (NASDAQ:EWTX – Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, analysts expect that Edgewise Therapeutics will post -1.45 earnings per share for the current fiscal year.
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.
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