Candriam S.C.A. Sells 40,659 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Candriam S.C.A. cut its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 13.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,965 shares of the company's stock after selling 40,659 shares during the quarter. Candriam S.C.A. owned about 0.27% of Edgewise Therapeutics worth $6,781,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. acquired a new stake in Edgewise Therapeutics during the 4th quarter valued at $576,000. Charles Schwab Investment Management Inc. lifted its holdings in Edgewise Therapeutics by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company's stock valued at $14,347,000 after purchasing an additional 15,273 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in Edgewise Therapeutics during the 4th quarter valued at $582,000. New York State Common Retirement Fund lifted its holdings in Edgewise Therapeutics by 6.4% during the 4th quarter. New York State Common Retirement Fund now owns 71,366 shares of the company's stock valued at $1,905,000 after purchasing an additional 4,284 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new stake in Edgewise Therapeutics during the 4th quarter valued at $275,000.

Insider Activity at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 1,200 shares of the business's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company's stock, valued at $447,822.19. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the transaction, the chief executive officer now owns 14,478 shares in the company, valued at approximately $434,774.34. This represents a 37.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,545 shares of company stock valued at $4,605,305 over the last quarter. 24.11% of the stock is owned by corporate insiders.

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Edgewise Therapeutics Price Performance

EWTX stock traded down $0.48 during midday trading on Monday, reaching $27.53. The company had a trading volume of 1,263,374 shares, compared to its average volume of 919,123. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -18.35 and a beta of 0.22. The stock has a 50 day moving average price of $26.78 and a 200-day moving average price of $27.98. Edgewise Therapeutics, Inc. has a 1-year low of $14.90 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly 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). As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

EWTX has been the subject of several research reports. Scotiabank initiated coverage on Edgewise Therapeutics in a report on Friday. They set a "sector outperform" rating and a $50.00 price target for the company. Evercore ISI raised their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Royal Bank of Canada reissued an "outperform" rating and set a $56.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Truist Financial lifted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Finally, Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $45.38.

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.