Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 537,359 shares of the company's stock after buying an additional 15,273 shares during the period. Charles Schwab Investment Management Inc. owned about 0.57% of Edgewise Therapeutics worth $14,347,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Quest Partners LLC boosted its holdings in 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 buying an additional 7,293 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Edgewise Therapeutics by 69.9% during the 3rd 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 in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter valued at about $531,000. Glenmede Trust Co. NA acquired a new position in Edgewise Therapeutics in the 3rd quarter worth about $483,000. Finally, Acuta Capital Partners LLC acquired a new position in Edgewise Therapeutics in the 3rd quarter worth about $1,681,000.

Analysts Set New Price Targets

Several analysts have recently issued reports on EWTX shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $56.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, March 4th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective on the stock. Scotiabank initiated coverage on Edgewise Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price for the company. Evercore ISI lifted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Finally, Truist Financial increased their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $45.38.

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Edgewise Therapeutics Stock Performance

Shares of EWTX stock traded down $0.24 on Monday, hitting $23.37. 1,650,899 shares of the stock traded hands, compared to its average volume of 942,775. Edgewise Therapeutics, Inc. has a twelve month low of $14.90 and a twelve month high of $38.12. The firm's 50-day moving average price is $26.65 and its two-hundred day moving average price is $28.40. The stock has a market capitalization of $2.22 billion, a PE ratio of -15.58 and a beta of 0.22.

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

Insider Buying and Selling

In related news, CMO Joanne M. Donovan sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total transaction 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 approximately $451,971.54. This trade represents a 60.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the sale, the chief executive officer now owns 14,478 shares of the company's stock, valued at $434,774.34. This trade represents a 37.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,545 shares of company stock worth $4,605,305. Company insiders own 24.11% of the company's stock.

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.