Edgewise Therapeutics ( (EWTX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge-fund level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Edgewise Therapeutics shares slid after the company reported a wider quarterly GAAP net loss of $40.67 million, up from a $34.13 million loss a year earlier, raising investor concerns about ongoing cash burn and profitability. In contrast to the stock’s decline, JPMorgan actually lifted its price target on Edgewise to $34, citing confidence in recent strategic leadership changes, including the appointment of a new chief financial officer. Corporate insider sentiment is described as neutral for now, even though some insiders have recently bought shares, suggesting cautious optimism rather than a strong bullish signal.
More about Edgewise Therapeutics
YTD Price Performance: -5.48%
Average Trading Volume: 1,238,404
Technical Sentiment Signal: Buy
Current Market Cap: $2.7B
For further insights into EWTX stock on TipRanks’ Stock Analysis page.
See more of today’s top stock gainers and losers.