Edgewise Therapeutics Inc. (NASDAQ:EWTX) shares, rose in value on Friday, 08/05/22, with the stock price up by 5.12% to the previous day’s close as strong demand from buyers drove the stock to $10.67.
Actively observing the price movement in the last trading, the stock closed the session at $10.15, falling within a range of $9.83 and $10.73. Referring to stock’s 52-week performance, its high was $22.98, and the low was $5.41. On the whole, EWTX has fluctuated by 9.89% over the past month.
With the market capitalization of Edgewise Therapeutics Inc. currently standing at about $567.22 million, investors are eagerly awaiting this quarter’s results, scheduled for Nov 10, 2021. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.32, which is expected to increase to -$0.32 for fiscal year -$1.42 and then to about -$1.87 by fiscal year 2023. Data indicates that the EPS growth is expected to be -24.60% in 2023, while the next year’s EPS growth is forecast to be -31.70%.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that EWTX’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a Hold.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of EWTX currently trading nearly 7.51% and 31.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.91, while the 7-day volatility ratio is showing 10.07% which for the 30-day chart, stands at 7.41%. Furthermore, Edgewise Therapeutics Inc. (EWTX)’s average true range (ATR) is 0.74.
A comparison of Edgewise Therapeutics Inc. (EWTX) with its peers suggests the former has fared considerably weaker in the market. EWTX showed an intraday change of 5.12% in last session, and over the past year, it shrunk by -40.89%%. In comparison, Pfizer Inc. (PFE) has moved lower at -1.18% on the day and was up 9.34% over the past 12 months. On the other hand, the price of Vertex Pharmaceuticals Incorporated (VRTX) has risen 4.80% on the day. The stock, however, is off 41.89% from where it was a year ago. Additionally, there is a gain of 4.50% for Sarepta Therapeutics Inc. (SRPT) in last trading while the stock has seen an overall depriciation of 34.99%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.
Data on historical trading for Edgewise Therapeutics Inc. (NASDAQ:EWTX) indicates that the trading volumes over the past 10 days have averaged 0.2 million and over the past 3 months, they’ve averaged 262.80K. According to company’s latest data on outstanding shares, there are 49.55 million shares outstanding.
The data on short interest also indicates that stock shorts accounted for 3.4 million shares as on Jul 14, 2022, resulting in a short ratio of 10.39. According to the data, the short interest in Edgewise Therapeutics Inc. (EWTX) stood at 6.86% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 3.22 million. The stock has fallen by -30.17% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the EWTX stock heading into the next quarter.