Amundi Buys 191,267 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Amundi boosted its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 127.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 341,687 shares of the company's stock after purchasing an additional 191,267 shares during the period. Amundi owned about 0.36% of Edgewise Therapeutics worth $8,686,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of EWTX. US Bancorp DE lifted its position in shares of Edgewise Therapeutics by 12,452.9% during the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company's stock valued at $228,000 after buying an additional 8,468 shares during the last quarter. Quest Partners LLC boosted its position 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 purchasing an additional 7,293 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Edgewise Therapeutics by 69.9% in the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock worth $88,000 after purchasing an additional 1,361 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Edgewise Therapeutics in the third quarter valued at approximately $531,000. Finally, Glenmede Trust Co. NA bought a new stake in shares of Edgewise Therapeutics in the third quarter valued at approximately $483,000.

Edgewise Therapeutics Trading Up 0.4 %

Shares of EWTX traded up $0.10 during trading hours on Tuesday, reaching $26.53. 1,462,730 shares of the company's stock traded hands, compared to its average volume of 924,452. The firm's 50 day simple moving average is $26.68 and its 200-day simple moving average is $28.22. The stock has a market cap of $2.53 billion, a PE ratio of -17.69 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 12 month low of $14.90 and a 12 month high of $38.12.

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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) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). As a group, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Marc Semigran sold 29,709 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the completion of the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. The trade was a 81.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the transaction, the insider now owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,545 shares of company stock worth $4,605,305. Corporate insiders own 24.11% of the company's stock.

Analyst Upgrades and Downgrades

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