Schroder Investment Management Group Acquires Shares of 93,061 Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Schroder Investment Management Group acquired a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 93,061 shares of the company's stock, valued at approximately $2,518,000. Schroder Investment Management Group owned approximately 0.10% of Edgewise Therapeutics as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rhumbline Advisers raised its position in shares of Edgewise Therapeutics by 1.5% in the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock worth $2,734,000 after acquiring an additional 1,525 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Edgewise Therapeutics by 18.9% in the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock worth $298,000 after purchasing an additional 1,772 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Edgewise Therapeutics by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company's stock valued at $536,000 after buying an additional 2,042 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at about $103,000. Finally, New York State Common Retirement Fund grew its position in shares of Edgewise Therapeutics by 6.4% in the 4th quarter. New York State Common Retirement Fund now owns 71,366 shares of the company's stock worth $1,905,000 after buying an additional 4,284 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EWTX. Royal Bank of Canada decreased their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Evercore ISI raised their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Piper Sandler reaffirmed an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Scotiabank downgraded Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Finally, Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $40.38.

Insider Transactions at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total value of $690,750.00. Following the completion of the transaction, the chief marketing officer now owns 16,358 shares of the company's stock, valued at $451,971.54. The trade was a 60.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Orbimed Advisors Llc bought 496,771 shares of the stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $20.13 per share, for a total transaction of $10,000,000.23. Following the purchase, the director now directly owns 14,809,075 shares of the company's stock, valued at approximately $298,106,679.75. The trade was a 3.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 34,836 shares of company stock worth $986,245 over the last 90 days. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded down $0.15 during trading hours on Friday, hitting $11.42. 1,278,119 shares of the stock traded hands, compared to its average volume of 1,120,847. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $38.12. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.61 and a beta of 0.32. The firm's 50 day moving average price is $22.90 and its 200-day moving average price is $27.78.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). Research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Edgewise Therapeutics 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.