AlphaCentric Advisors LLC acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,316 shares of the company's stock, valued at approximately $275,000.
Other large investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock valued at $88,000 after buying an additional 604 shares in the last quarter. Meeder Asset Management Inc. raised its position in Edgewise Therapeutics by 69.9% during the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock worth $88,000 after acquiring an additional 1,361 shares during the period. Chicago Partners Investment Group LLC purchased a new position in Edgewise Therapeutics during the third quarter valued at $161,000. US Bancorp DE grew its position in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company's stock valued at $228,000 after purchasing an additional 8,468 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Edgewise Therapeutics by 418.7% during the third quarter. Quest Partners LLC now owns 9,035 shares of the company's stock worth $241,000 after purchasing an additional 7,293 shares in the last quarter.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Evercore ISI raised their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price on the stock. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Finally, Wedbush raised their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Edgewise Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $41.29.
View Our Latest Analysis on EWTX
Edgewise Therapeutics Price Performance
Shares of NASDAQ:EWTX traded up $0.54 during midday trading on Thursday, hitting $27.21. The company had a trading volume of 1,581,073 shares, compared to its average volume of 972,011. Edgewise Therapeutics, Inc. has a twelve month low of $14.90 and a twelve month high of $38.12. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -18.14 and a beta of 0.20. The business's 50-day simple moving average is $27.62 and its 200-day simple moving average is $27.13.
Insider Transactions at Edgewise Therapeutics
In related news, insider Marc Semigran sold 29,709 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the completion of the transaction, the insider now directly owns 6,716 shares in the company, valued at approximately $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alan J. Russell sold 1,200 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the sale, the insider now directly owns 14,863 shares of the company's stock, valued at approximately $447,822.19. This trade represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 164,545 shares of company stock worth $4,605,305 in the last quarter. Company insiders own 24.11% of the company's stock.
About Edgewise Therapeutics
(
Free Report)
Edgewise Therapeutics, Inc, a biopharmaceutical company, discovers, develops, and commercializes therapies for the treatment of muscle disorders. Its lead product candidate, EDG-5506, an orally administered small molecule that is in Phase II clinical trials, designed to address the root cause of dystrophinopathies including Duchenne muscular dystrophy and Becker muscular dystrophy.
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