Handelsbanken Fonder AB Acquires Shares of 21,800 Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Handelsbanken Fonder AB purchased a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 21,800 shares of the company's stock, valued at approximately $582,000.

Other large investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its stake in Edgewise Therapeutics by 69.9% in the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company's stock valued at $88,000 after acquiring an additional 1,361 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Edgewise Therapeutics by 21.7% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock worth $88,000 after purchasing an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Edgewise Therapeutics during the 3rd quarter valued at approximately $161,000. US Bancorp DE grew its stake in Edgewise Therapeutics by 12,452.9% during the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company's stock worth $228,000 after buying an additional 8,468 shares during the last quarter. Finally, Quest Partners LLC increased its position in Edgewise Therapeutics by 418.7% in the third quarter. Quest Partners LLC now owns 9,035 shares of the company's stock worth $241,000 after buying an additional 7,293 shares during the period.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the sale, the insider now directly owns 14,863 shares of the company's stock, valued at approximately $406,800.31. This represents a 87.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the transaction, the chief executive officer now directly owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,545 shares of company stock valued at $4,605,305 over the last 90 days. 24.11% of the stock is currently owned by corporate insiders.

Remove Ads

Edgewise Therapeutics Stock Performance

Shares of EWTX stock traded up $2.21 during midday trading on Wednesday, reaching $26.71. 781,031 shares of the company were exchanged, compared to its average volume of 987,601. The company's 50 day moving average price is $26.81 and its two-hundred day moving average price is $27.76. The company has a market cap of $2.53 billion, a P/E ratio of -17.81 and a beta of 0.20. Edgewise Therapeutics, Inc. has a 12 month low of $14.90 and a 12 month high of $38.12.

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

Analyst Ratings Changes

Several brokerages have recently issued reports on EWTX. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and set a $56.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday. Truist Financial raised their price target 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 stock an "outperform" rating in a research report on Tuesday, December 17th. Finally, Wedbush increased their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.71.

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.