There Is Clear Momentum For Edgewise Therapeutics Inc (NASDAQ: EWTX)

Edgewise Therapeutics Inc (EWTX) concluded trading on Thursday at a closing price of $18.24, with 0.48 million shares of worth about $8.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 199.02% during that period and on March 28, 2024 the price saw a gain of about 1.56%. Currently the company’s common shares owned by public are about 70.45M shares, out of which, 62.77M shares are available for trading.

Stock saw a price change of 7.99% in past 5 days and over the past one month there was a price change of 9.55%. Year-to-date (YTD), EWTX shares are showing a performance of 66.73% which increased to 160.57% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.12 but also hit the highest price of $20.69 during that period. The average intraday trading volume for Edgewise Therapeutics Inc shares is 1.05 million. The stock is currently trading 8.09% above its 20-day simple moving average (SMA20), while that difference is up 7.48% for SMA50 and it goes to 88.37% higher than SMA200.

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Edgewise Therapeutics Inc (NASDAQ: EWTX) currently have 70.45M outstanding shares and institutions hold larger chunk of about 64.35% of that.

The stock has a current market capitalization of $1.70B and its 3Y-monthly beta is at 0.15. It has posted earnings per share of -$1.57 in the same period. It has Quick Ratio of 19.50 while making debt-to-equity ratio of 0.02. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EWTX, volatility over the week remained 5.52% while standing at 5.72% over the month.

Analysts are in expectations that Edgewise Therapeutics Inc (EWTX) stock would likely to be making an EPS of -$0.39 in the current quarter, while forecast for next quarter EPS is -$0.38 and it is -$2.05 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.49 which is -$0.28 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.36 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -8.86% while it is estimated to decrease by -19.04% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on March 07, 2024 offering an Overweight rating for the stock and assigned a target price of $48 to it. On August 25, 2022, Goldman Downgrade their recommendations, while on April 13, 2022, RBC Capital Mkts Initiated their ratings for the stock with a price target of $31. Stock get a Neutral rating from Goldman on January 28, 2022.

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