Vanguard Group Inc. Has $119.27 Million Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Vanguard Group Inc. lowered its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,466,849 shares of the company's stock after selling 49,214 shares during the quarter. Vanguard Group Inc. owned approximately 4.72% of Edgewise Therapeutics worth $119,265,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in Edgewise Therapeutics in the fourth quarter valued at $103,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter worth about $182,000. AlphaCentric Advisors LLC bought a new stake in Edgewise Therapeutics in the 4th quarter valued at about $275,000. Teacher Retirement System of Texas boosted its stake in Edgewise Therapeutics by 18.9% during the 4th quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock valued at $298,000 after purchasing an additional 1,772 shares during the period. Finally, Orion Portfolio Solutions LLC bought a new position in Edgewise Therapeutics in the 3rd quarter worth about $347,000.

Wall Street Analysts Forecast Growth

EWTX has been the subject of several analyst reports. Evercore ISI boosted their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Scotiabank cut Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their price target for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Royal Bank of Canada cut their price objective on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Piper Sandler reiterated an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus initiated coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $40.38.

Edgewise Therapeutics Stock Down 1.3 %

Edgewise Therapeutics stock traded down $0.15 during midday trading on Friday, hitting $11.42. The company's stock had a trading volume of 1,278,119 shares, compared to its average volume of 1,123,684. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The company has a market capitalization of $1.20 billion, a PE ratio of -7.61 and a beta of 0.32. The stock's 50-day moving average price is $22.90 and its 200-day moving average price is $27.79.

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

Insider Activity

In related news, insider Alan J. Russell sold 1,200 shares of the company'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 value of $36,156.00. Following the completion of the sale, the insider now owns 14,863 shares in the company, valued at approximately $447,822.19. This represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $690,750.00. Following the transaction, the chief marketing officer now owns 16,358 shares in the company, valued at approximately $451,971.54. The trade was a 60.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock valued at $986,245 over the last three months. Insiders own 24.11% of the company's stock.

About Edgewise Therapeutics

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.