28,303 Shares in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Bought by XTX Topco Ltd

XTX Topco Ltd purchased a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,303 shares of the company's stock, valued at approximately $755,000.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC grew its stake in Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company's stock valued at $31,000 after buying an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Edgewise Therapeutics in the second quarter worth about $35,000. 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 worth $88,000 after purchasing an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in Edgewise Therapeutics during the 3rd quarter valued at approximately $161,000. Finally, Arizona State Retirement System bought a new position in Edgewise Therapeutics in the 2nd quarter worth approximately $188,000.

Edgewise Therapeutics Stock Performance

EWTX traded down $1.65 during midday trading on Thursday, hitting $28.15. The company had a trading volume of 910,813 shares, compared to its average volume of 927,391. Edgewise Therapeutics, Inc. has a twelve month low of $6.68 and a twelve month high of $38.12. The company has a market capitalization of $2.67 billion, a PE ratio of -19.87 and a beta of 0.12. The firm's 50-day simple moving average is $32.67 and its 200-day simple moving average is $23.99.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Activity

In other news, insider Alan J. Russell sold 75,000 shares of the firm's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the sale, the insider now owns 12,719 shares of the company's stock, valued at $359,566.13. This trade represents a 85.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel John R. Moore sold 20,922 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total value of $578,074.86. Following the completion of the transaction, the general counsel now owns 3,252 shares of the company's stock, valued at $89,852.76. This represents a 86.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,176 shares of company stock valued at $7,893,316. 24.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Piper Sandler upped their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Evercore ISI began coverage on Edgewise Therapeutics in a research note on Friday, November 22nd. They set an "outperform" rating and a $45.00 price target on the stock. Wedbush raised their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Edgewise Therapeutics currently has an average rating of "Buy" and an average target price of $42.33.

Edgewise Therapeutics Company Profile

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.