EWTX - Edgewise and eFFECTOR recover from recent slump

After a sharp decline over the past 30-day period, Edgewise Therapeutics (EWTX +21.8%) and eFFECTOR Therapeutics (EFTR +34.0%), two clinical-stage biopharmaceutical companies that made their trading debuts recently, have recorded notable gains. After a string of intra-day losses, Edgewise (NASDAQ:EWTX) has added more than a fifth in value on above-average volume with over three times its 65-day average of shares changing hands. Meanwhile, eFFECTOR (NASDAQ:EFTR) has climbed over a third on below-average volume. About 409.3K company shares have traded so far, well below the 65-day average volume of ~1.5M. eFFector (EFTR) went public in August thanks to a SPAC deal with Locust Walk Acquisition. Edgewise (EWTX) made a strong market debut in March after an IPO that was expected to raise $176M in gross proceeds. As shown in the graph below, both stocks have sharply underperformed the broader market over the past month.

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Edgewise and eFFECTOR recover from recent slump