Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 75.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,844 shares of the company's stock after buying an additional 14,944 shares during the quarter. Intech Investment Management LLC's holdings in Edgewise Therapeutics were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its stake in shares of Edgewise Therapeutics by 1.5% in the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock valued at $2,734,000 after purchasing an additional 1,525 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Edgewise Therapeutics by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company's stock worth $536,000 after buying an additional 2,042 shares during the last quarter. New York State Common Retirement Fund increased its position in Edgewise Therapeutics by 6.4% during the fourth quarter. New York State Common Retirement Fund now owns 71,366 shares of the company's stock valued at $1,905,000 after acquiring an additional 4,284 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Edgewise Therapeutics by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company's stock valued at $2,250,000 after acquiring an additional 4,426 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 418.7% in the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company's stock worth $241,000 after acquiring an additional 7,293 shares during the last quarter.

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Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus started coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $56.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Truist Financial upped their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research report on Wednesday, November 27th. Scotiabank began coverage on Edgewise Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.38.

Insider Buying and Selling at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the sale, the insider now owns 14,863 shares of the company's stock, valued at $406,800.31. This trade represents a 87.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CMO Joanne M. Donovan sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the completion of the transaction, the chief marketing officer now owns 16,358 shares of the company's stock, valued at $451,971.54. This represents a 60.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,836 shares of company stock valued at $3,723,245. 24.11% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Stock Down 0.4 %

NASDAQ:EWTX traded down $0.10 during mid-day trading on Tuesday, reaching $23.27. The company's stock had a trading volume of 376,489 shares, compared to its average volume of 942,688. Edgewise Therapeutics, Inc. has a 1 year low of $14.90 and a 1 year high of $38.12. The stock has a fifty day moving average of $26.61 and a 200-day moving average of $28.44. The firm has a market capitalization of $2.22 billion, a PE ratio of -15.51 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results 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). On average, analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

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.