EFG Asset Management North America Corp. Acquires New Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

EFG Asset Management North America Corp. bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 41,338 shares of the company's stock, valued at approximately $1,103,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Edgewise Therapeutics by 74.8% during the 3rd quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company's stock valued at $121,616,000 after acquiring an additional 1,951,220 shares in the last quarter. Braidwell LP acquired a new position in Edgewise Therapeutics in the 3rd quarter valued at approximately $52,267,000. State Street Corp lifted its position in Edgewise Therapeutics by 1.2% in the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company's stock worth $44,976,000 after buying an additional 20,020 shares in the last quarter. Parkman Healthcare Partners LLC boosted its stake in shares of Edgewise Therapeutics by 14.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company's stock valued at $17,537,000 after buying an additional 82,553 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Edgewise Therapeutics by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company's stock valued at $14,347,000 after buying an additional 15,273 shares during the last quarter.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX traded down $0.17 during mid-day trading on Friday, hitting $23.27. 701,469 shares of the stock were exchanged, compared to its average volume of 964,004. Edgewise Therapeutics, Inc. has a twelve month low of $14.90 and a twelve month high of $38.12. The stock's fifty day simple moving average is $26.27 and its two-hundred day simple moving average is $28.52. The company has a market cap of $2.22 billion, a P/E ratio of -15.51 and a beta of 0.22.

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Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data 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, equities research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CEO Kevin Koch sold 8,636 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total value of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares of the company's stock, valued at $434,774.34. This represents a 37.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction 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 sale, 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. In the last three months, insiders have sold 134,836 shares of company stock worth $3,723,245. Company insiders own 24.11% of the company's stock.

Analyst Upgrades and Downgrades

EWTX has been the topic of several analyst reports. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price on the stock. Evercore ISI boosted their target price 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. Scotiabank assumed coverage on Edgewise Therapeutics in a research report on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 price target on the stock. Finally, Royal Bank of Canada restated an "outperform" rating and set a $56.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.38.

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.