Fred Alger Management LLC acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,128 shares of the company's stock, valued at approximately $564,000.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Edgewise Therapeutics by 89.0% in the 1st quarter. Vanguard Group Inc. now owns 4,017,433 shares of the company's stock worth $73,278,000 after purchasing an additional 1,892,053 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Edgewise Therapeutics by 23.1% during the first quarter. California State Teachers Retirement System now owns 36,467 shares of the company's stock valued at $665,000 after buying an additional 6,847 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Edgewise Therapeutics in the 2nd quarter worth about $274,000. SG Americas Securities LLC raised its position in Edgewise Therapeutics by 657.9% in the 2nd quarter. SG Americas Securities LLC now owns 64,173 shares of the company's stock worth $1,156,000 after buying an additional 55,706 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Edgewise Therapeutics by 26.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 268,712 shares of the company's stock valued at $4,840,000 after acquiring an additional 56,447 shares during the period.
Edgewise Therapeutics Stock Performance
Shares of NASDAQ EWTX traded down $1.46 during trading on Monday, hitting $31.54. The company had a trading volume of 885,886 shares, compared to its average volume of 934,382. The stock has a 50 day simple moving average of $31.92 and a 200 day simple moving average of $23.29. The firm has a market capitalization of $2.99 billion, a P/E ratio of -22.00 and a beta of 0.14. Edgewise Therapeutics, Inc. has a 12 month low of $6.07 and a 12 month high of $38.12.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on EWTX. JPMorgan Chase & Co. raised their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, August 12th. Evercore ISI initiated coverage on Edgewise Therapeutics in a report on Friday, November 22nd. They issued an "outperform" rating and a $45.00 price objective for the company. Wedbush raised their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Piper Sandler upped their price target on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Truist Financial increased their price objective on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, November 27th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Edgewise Therapeutics presently has an average rating of "Buy" and a consensus price target of $42.33.
Get Our Latest Stock Report on EWTX
Insiders Place Their Bets
In other Edgewise Therapeutics news, General Counsel John R. Moore sold 20,922 shares of Edgewise Therapeutics stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $27.63, for a total value of $578,074.86. Following the sale, the general counsel now directly owns 3,252 shares in the company, valued at approximately $89,852.76. The trade was a 86.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alan J. Russell sold 75,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the transaction, the insider now directly owns 12,719 shares of the company's stock, valued at $359,566.13. This trade represents a 85.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 278,176 shares of company stock worth $7,893,316. Corporate insiders own 24.11% of the company's stock.
About Edgewise Therapeutics
(
Free Report)
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.
Featured Articles
Before you consider Edgewise Therapeutics, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Edgewise Therapeutics wasn't on the list.
While Edgewise Therapeutics currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
