Jump Financial LLC Reduces Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Jump Financial LLC reduced its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 58.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,178 shares of the company's stock after selling 76,628 shares during the period. Jump Financial LLC owned about 0.06% of Edgewise Therapeutics worth $1,473,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in Edgewise Therapeutics by 291.0% during the 3rd quarter. Barclays PLC now owns 119,350 shares of the company's stock worth $3,186,000 after buying an additional 88,826 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Edgewise Therapeutics by 84.2% in the 3rd quarter. Franklin Resources Inc. now owns 45,223 shares of the company's stock valued at $1,207,000 after acquiring an additional 20,674 shares during the last quarter. Exome Asset Management LLC acquired a new stake in shares of Edgewise Therapeutics during the 3rd quarter worth about $1,599,000. JPMorgan Chase & Co. lifted its stake in Edgewise Therapeutics by 146.3% during the third quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company's stock worth $4,231,000 after purchasing an additional 94,147 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its holdings in Edgewise Therapeutics by 24.3% in the fourth quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company's stock valued at $5,018,000 after purchasing an additional 36,775 shares in the last quarter.

Edgewise Therapeutics Trading Up 9.6 %

Shares of NASDAQ EWTX traded up $1.30 during midday trading on Wednesday, reaching $14.83. 1,097,839 shares of the company were exchanged, compared to its average volume of 1,143,632. The stock has a market cap of $1.55 billion, a P/E ratio of -9.89 and a beta of 0.32. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $38.12. The stock has a fifty day simple moving average of $20.95 and a 200 day simple moving average of $27.11.

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

Insider Activity

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 25,000 shares of Edgewise Therapeutics stock in a transaction that occurred 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 sale, the chief marketing officer now owns 16,358 shares of the company's stock, valued at approximately $451,971.54. The trade was a 60.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alan J. Russell sold 1,200 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares of the company's stock, valued at approximately $447,822.19. This trade represents a 7.47 % 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 over the last quarter. Corporate insiders own 24.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective on the stock. Royal Bank of Canada reduced their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research report on Thursday, April 3rd. Scotiabank downgraded shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Piper Sandler reiterated an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Wedbush reissued an "outperform" rating and issued a $43.00 target price on shares of Edgewise Therapeutics in a research report on Monday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $40.13.

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.