Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Bought by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership increased its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,071,596 shares of the company's stock after acquiring an additional 70,964 shares during the period. Artisan Partners Limited Partnership owned about 1.13% of Edgewise Therapeutics worth $28,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of Edgewise Therapeutics by 84.2% in the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company's stock valued at $1,207,000 after purchasing an additional 20,674 shares during the period. Amundi boosted its position in Edgewise Therapeutics by 127.2% in the 4th quarter. Amundi now owns 341,687 shares of the company's stock valued at $8,686,000 after buying an additional 191,267 shares during the period. Braidwell LP acquired a new position in shares of Edgewise Therapeutics in the third quarter worth $52,267,000. Victory Capital Management Inc. purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $576,000. Finally, XTX Topco Ltd acquired a new stake in shares of Edgewise Therapeutics in the third quarter valued at $755,000.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock traded down $5.16 during mid-day trading on Wednesday, hitting $14.97. 9,691,376 shares of the stock were exchanged, compared to its average volume of 1,312,483. The stock's fifty day simple moving average is $26.04 and its two-hundred day simple moving average is $28.64. Edgewise Therapeutics, Inc. has a 12-month low of $12.18 and a 12-month high of $38.12. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -9.97 and a beta of 0.22.

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

Insider Transactions at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,200 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the transaction, the insider now directly owns 14,863 shares of the company's stock, valued at $447,822.19. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Joanne M. Donovan sold 25,000 shares of the business's stock in a transaction on 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 directly owns 16,358 shares of the company's stock, valued at approximately $451,971.54. This trade represents a 60.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock valued at $986,245 in the last ninety days. 24.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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