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Edgewise Therapeutics Inc [NASDAQ: EWTX] Sees Increase in Stock Value

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Edgewise Therapeutics Inc shares valued at $160,657 were sold by MOORE JOHN R on Feb 09 ’24. At $20.01 per share, MOORE JOHN R sold 8,029 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

Also, Derakhshan Behrad sold 4,800 shares, netting a total of over 96,209 in proceeds. Following the sale of shares at $20.04 each, the insider now holds 7,020 shares.

Before that, Derakhshan Behrad had sold 4,600 shares from its account. In a trade valued at $92,049, the Chief Business Officer traded Edgewise Therapeutics Inc shares for $20.01 each. Upon closing the transaction, the insider’s holdings decreased to 4,600 shares, worth approximately $0.13 million.

As published in their initiating research note from Piper Sandler on March 07, 2024, Edgewise Therapeutics Inc [EWTX] has been an Overweight and the price target has been revised to $48. Analysts at Truist started covering the stock with ‘”a Buy”‘ outlook in a report released in early May. As of August 25, 2022, Goldman has decreased its “Neutral” rating to a “Sell” for EWTX. Earlier on April 13, 2022, RBC Capital Mkts initiated its rating. Their recommendation was “an Outperform” for EWTX stock.

Analyzing EWTX Stock Performance

During the last five days, there has been a surge of approximately 18.00%. Over the course of the year, Edgewise Therapeutics Inc shares have jumped approximately 73.77%. Shares of the company reached a 52-week high of $20.90 on 05/01/24 and a 52-week low of $9.00 on 01/17/24. A 50-day SMA is recorded $16.81, while a 200-day SMA reached $10.74. Nevertheless, trading volume fell to 0.98 million shares from 0.54 million shares the previous day.

Support And Resistance Levels for Edgewise Therapeutics Inc (EWTX)

According to the 24-hour chart, there is a support level at 17.29, which, if violated, would cause prices to drop to 15.56. In the upper region, resistance lies at 20.82. The next price resistance is at 22.62. RSI (Relative Strength Index) is 67.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.66, which suggests the price will increase in the coming days. Percent R is at 31.50%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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