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Piper Sandler gives an Overweight recommendation for Edgewise Therapeutics Inc (EWTX)

Edgewise Therapeutics Inc’s recent filing unveils that its CMO Donovan Joanne M. unloaded Company’s shares for reported $69627.0 on May 02 ’24. In the deal valued at $18.91 per share,3,682 shares were sold. As a result of this transaction, Donovan Joanne M. now holds 19,897 shares worth roughly $0.36 million.

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Then, KOCH KEVIN sold 3,152 shares, generating $59,604 in total proceeds. Upon selling the shares at $18.91, the President and CEO now owns 14,478 shares.

Before that, Carruthers R Michael sold 2,157 shares. Edgewise Therapeutics Inc shares valued at $40,789 were divested by the Chief Financial Officer at a price of $18.91 per share. As a result of the transaction, Carruthers R Michael now holds 35,230 shares, worth roughly $0.65 million.

Piper Sandler initiated its Edgewise Therapeutics Inc [EWTX] rating to an Overweight in a research note published on March 07, 2024; the price target was $48. A number of analysts have revised their coverage, including Truist’s analysts, who began to cover the stock in early May with a ‘”a Buy”‘ rating. Goldman also remained covering EWTX and has decreased its forecast on August 25, 2022 with a “Sell” recommendation from previously “Neutral” rating. RBC Capital Mkts started covering the stock on April 13, 2022. It rated EWTX as “an Outperform”.

Price Performance Review of EWTX

On Friday, Edgewise Therapeutics Inc [NASDAQ:EWTX] saw its stock fall -8.35% to $18.33. Over the last five days, the stock has lost -6.10%. Edgewise Therapeutics Inc shares have risen nearly 67.55% since the year began. Nevertheless, the stocks have risen 84.96% over the past one year. While a 52-week high of $21.60 was reached on 05/08/24, a 52-week low of $5.12 was recorded on 01/17/24. SMA at 50 days reached $17.22, while 200 days put it at $11.19. A total of 1.14 million shares were traded, compared to the trading of 1.03 million shares in the previous session.

Levels Of Support And Resistance For EWTX Stock

The 24-hour chart illustrates a support level at 17.53, which if violated will result in even more drops to 16.72. On the upside, there is a resistance level at 19.56. A further resistance level may holdings at 20.79. The Relative Strength Index (RSI) on the 14-day chart is 52.12, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 50.15%. Stochastics %K at 71.79% indicates the stock is a holding.

The most recent change occurred on January 28, 2022 when Goldman began covering the stock and recommended ‘”a Neutral”‘ rating along with a $11 price target.

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