Charles Schwab Investment Management Inc. Sells 49,111 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Charles Schwab Investment Management Inc. reduced its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 8.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 522,086 shares of the company's stock after selling 49,111 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Edgewise Therapeutics worth $13,934,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Sofinnova Investments Inc. bought a new stake in Edgewise Therapeutics during the second quarter worth about $8,567,000. Federated Hermes Inc. acquired a new stake in shares of Edgewise Therapeutics during the 2nd quarter worth approximately $833,000. SG Americas Securities LLC lifted its stake in Edgewise Therapeutics by 657.9% during the second quarter. SG Americas Securities LLC now owns 64,173 shares of the company's stock worth $1,156,000 after purchasing an additional 55,706 shares during the last quarter. abrdn plc acquired a new stake in shares of Edgewise Therapeutics in the 3rd quarter valued at $6,850,000. Finally, Novo Holdings A S bought a new position in shares of Edgewise Therapeutics in the 2nd quarter valued at $114,263,000.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, CFO R Michael Carruthers sold 125,092 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now owns 6,904 shares in the company, valued at approximately $197,247.28. This represents a 94.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John R. Moore sold 50,000 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.37, for a total transaction of $1,418,500.00. Following the transaction, the general counsel now owns 3,252 shares in the company, valued at approximately $92,259.24. The trade was a 93.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock worth $7,893,316 in the last quarter. Company insiders own 24.11% of the company's stock.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock traded down $2.63 on Monday, hitting $29.96. 348,367 shares of the company's stock traded hands, compared to its average volume of 929,073. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of -21.73 and a beta of 0.12. The company has a fifty day moving average of $32.51 and a two-hundred day moving average of $23.77. Edgewise Therapeutics, Inc. has a one year low of $6.44 and a one year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.37) by $0.01. Equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on EWTX. JPMorgan Chase & Co. raised their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, August 12th. Royal Bank of Canada reissued an "outperform" rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Piper Sandler lifted their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Truist Financial upped their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Finally, Wedbush lifted their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $42.33.

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.