FY2029 Earnings Forecast for EWTX Issued By HC Wainwright

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) – Equities researchers at HC Wainwright cut their FY2029 earnings estimates for Edgewise Therapeutics in a report issued on Friday, November 7th. HC Wainwright analyst J. Pantginis now forecasts that the company will earn $3.25 per share for the year, down from their previous estimate of $3.47. The consensus estimate for Edgewise Therapeutics’ current full-year earnings is ($1.45) per share.

EWTX has been the subject of a number of other reports. JPMorgan Chase & Co. lowered their target price on Edgewise Therapeutics from $40.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, August 19th. Wedbush cut their price target on Edgewise Therapeutics from $35.00 to $32.00 and set an “outperform” rating for the company in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Edgewise Therapeutics in a research report on Wednesday, October 8th. Raymond James Financial started coverage on shares of Edgewise Therapeutics in a report on Wednesday, July 30th. They set a “strong-buy” rating and a $46.00 price objective on the stock. Finally, The Goldman Sachs Group began coverage on shares of Edgewise Therapeutics in a research note on Thursday, September 25th. They issued a “neutral” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $38.00.

Edgewise Therapeutics Trading Up 0.4%

Shares of EWTX opened at $17.16 on Monday. Edgewise Therapeutics has a 12 month low of $10.60 and a 12 month high of $38.12. The company has a market capitalization of $1.82 billion, a PE ratio of -10.86 and a beta of 0.30. The stock’s 50-day moving average price is $15.51 and its two-hundred day moving average price is $14.73.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its 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.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of EWTX. Bessemer Group Inc. raised its holdings in shares of Edgewise Therapeutics by 1,170.3% in the 3rd quarter. Bessemer Group Inc. now owns 2,350 shares of the company’s stock worth $38,000 after purchasing an additional 2,165 shares during the period. Canada Pension Plan Investment Board bought a new position in Edgewise Therapeutics during the second quarter valued at $45,000. Jones Financial Companies Lllp purchased a new stake in Edgewise Therapeutics in the first quarter worth $47,000. Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $53,000 after buying an additional 894 shares during the last quarter. Finally, Allostery Investments LP bought a new stake in shares of Edgewise Therapeutics in the first quarter valued at $66,000.

Insiders Place Their Bets

In other news, CEO Kevin Koch sold 7,972 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $106,745.08. Following the completion of the sale, the chief executive officer directly owned 30,615 shares of the company’s stock, valued at $409,934.85. This trade represents a 20.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Joanne M. Donovan sold 2,862 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $38,322.18. Following the sale, the chief marketing officer owned 25,361 shares in the company, valued at $339,583.79. The trade was a 10.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 116,267 shares of company stock worth $1,677,815 over the last 90 days. Company insiders own 23.20% of the company’s stock.

Edgewise Therapeutics Company Profile

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.