Intech Investment Management LLC Boosts Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Intech Investment Management LLC boosted its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 75.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 34,844 shares of the company's stock after purchasing an additional 14,944 shares during the period. Intech Investment Management LLC's holdings in Edgewise Therapeutics were worth $930,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EWTX. Janus Henderson Group PLC grew its holdings in shares of Edgewise Therapeutics by 74.8% in the third 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 bought a new position in Edgewise Therapeutics in the 3rd quarter valued at $52,267,000. State Street Corp increased its position in shares of Edgewise Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company's stock valued at $44,976,000 after purchasing an additional 20,020 shares during the last quarter. Parkman Healthcare Partners LLC raised 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 worth $17,537,000 after purchasing an additional 82,553 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Edgewise Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company's stock worth $14,347,000 after buying an additional 15,273 shares during the last quarter.

Edgewise Therapeutics Trading Up 5.3 %

Shares of NASDAQ EWTX traded up $1.18 during mid-day trading on Thursday, hitting $23.44. The company had a trading volume of 1,713,893 shares, compared to its average volume of 949,256. The stock's 50-day moving average price is $26.40 and its 200-day moving average price is $28.43. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of -15.63 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 1 year low of $14.90 and a 1 year high of $38.12.

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). As a group, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $56.00 price objective on shares of Edgewise Therapeutics in a research report on Tuesday, March 4th. Truist Financial raised their price target 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. Evercore ISI upped their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, December 17th. Stifel Nicolaus began coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price for the company. Finally, Scotiabank began coverage on Edgewise Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.38.

Insiders Place Their Bets

In other news, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction on Wednesday, February 5th. The shares were 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 approximately $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alan J. Russell sold 100,000 shares of the company's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the transaction, the insider now owns 14,863 shares in the company, valued at $406,800.31. This represents a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,836 shares of company stock worth $3,723,245 in the last three months. 24.11% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Company 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.