Harvest Investment Services LLC Takes $2.12 Million Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Harvest Investment Services LLC acquired a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 79,381 shares of the company's stock, valued at approximately $2,119,000. Harvest Investment Services LLC owned 0.08% of Edgewise Therapeutics at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Pictet Asset Management Holding SA bought a new stake in Edgewise Therapeutics during the fourth quarter valued at about $8,043,000. Amundi grew its position in shares of Edgewise Therapeutics by 127.2% during the fourth quarter. Amundi now owns 341,687 shares of the company's stock worth $8,686,000 after purchasing an additional 191,267 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Edgewise Therapeutics by 146.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company's stock valued at $4,231,000 after purchasing an additional 94,147 shares during the period. Schroder Investment Management Group purchased a new position in Edgewise Therapeutics in the 4th quarter worth approximately $2,518,000. Finally, Barclays PLC boosted its stake in Edgewise Therapeutics by 291.0% in the 3rd quarter. Barclays PLC now owns 119,350 shares of the company's stock worth $3,186,000 after purchasing an additional 88,826 shares during the period.

Insiders Place Their Bets

In related news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the transaction, the insider now directly owns 14,863 shares of the company's stock, valued at approximately $447,822.19. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc purchased 496,771 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the acquisition, the director now directly owns 14,809,075 shares in the company, valued at $298,106,679.75. The trade was a 3.47 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 34,836 shares of company stock valued at $986,245 over the last three months. 24.11% of the stock is owned by company insiders.

Edgewise Therapeutics Trading Down 3.6 %

Shares of NASDAQ:EWTX traded down $0.56 during trading on Friday, reaching $14.84. The company's stock had a trading volume of 1,124,025 shares, compared to its average volume of 1,149,080. The firm's 50 day simple moving average is $20.54 and its two-hundred day simple moving average is $26.94. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The stock has a market capitalization of $1.55 billion, a PE ratio of -9.89 and a beta of 0.32.

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 analysts' consensus estimates of ($0.39) by ($0.03). Research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on EWTX shares. Piper Sandler reissued an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Royal Bank of Canada decreased their price target 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. Stifel Nicolaus started coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective for the company. Wedbush reiterated an "outperform" rating and issued a $43.00 target price on shares of Edgewise Therapeutics in a research report on Monday. Finally, Scotiabank lowered Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $40.13.

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.