Edgewise Therapeutics (NASDAQ:EWTX) Sees Strong Trading Volume

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) saw an uptick in trading volume on Thursday . 8,340 shares were traded during trading, a decline of 96% from the previous session’s volume of 187,528 shares.The stock last traded at $26.32 and had previously closed at $26.45.

A number of equities research analysts have recently issued reports on EWTX shares. The Goldman Sachs Group initiated coverage on shares of Edgewise Therapeutics in a research note on Monday, April 26th. They issued a “neutral” rating and a $31.00 price objective for the company. Wedbush started coverage on shares of Edgewise Therapeutics in a research report on Monday, April 26th. They set an “outperform” rating and a $38.00 price target for the company. SVB Leerink initiated coverage on Edgewise Therapeutics in a research note on Monday, April 26th. They set an “outperform” rating and a $34.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Edgewise Therapeutics in a research note on Monday, April 26th. They issued an “overweight” rating and a $34.00 target price for the company.

The business has a fifty day simple moving average of $28.72.

In related news, major shareholder James E. Flynn purchased 625,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 30th. The shares were acquired at an average price of $16.00 per share, for a total transaction of $10,000,000.00. Following the completion of the acquisition, the insider now directly owns 4,962,207 shares in the company, valued at approximately $79,395,312. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan D. Root acquired 15,625 shares of Edgewise Therapeutics stock in a transaction on Tuesday, March 30th. The shares were bought at an average cost of $16.00 per share, for a total transaction of $250,000.00. Following the completion of the transaction, the director now owns 15,625 shares in the company, valued at approximately $250,000. The disclosure for this purchase can be found here.

Several institutional investors and hedge funds have recently made changes to their positions in the company. New Leaf Venture Partners L.L.C. bought a new position in Edgewise Therapeutics in the first quarter worth about $50,494,000. Federated Hermes Inc. purchased a new position in shares of Edgewise Therapeutics in the 1st quarter valued at approximately $20,044,000. Credit Suisse AG bought a new stake in shares of Edgewise Therapeutics during the first quarter valued at approximately $2,732,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in Edgewise Therapeutics in the first quarter worth $290,000.

Edgewise Therapeutics Company Profile (NASDAQ:EWTX)

Edgewise Therapeutics, Inc, a biopharmaceutical company, develops small molecule therapies for musculoskeletal diseases. It offers a precision medicine muscle platform that generates programs to address various muscle disorders, such as Duchenne, Becker, and limb girdle muscular dystrophies. The company develops a pipeline of precision medicine product candidates that target key muscle proteins and modulators to address genetically defined muscle disorders.

See Also: Lock-Up Period Expiration

Receive News & Ratings for Edgewise Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Edgewise Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.