19,900 Shares in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Acquired by Intech Investment Management LLC

Intech Investment Management LLC bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,900 shares of the company's stock, valued at approximately $531,000.

A number of other large investors also recently bought and sold shares of EWTX. Quest Partners LLC lifted its stake in shares of Edgewise Therapeutics by 156.9% during the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company's stock worth $31,000 after purchasing an additional 1,064 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Edgewise Therapeutics during the second quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company's stock valued at $88,000 after purchasing an additional 604 shares during the period. Chicago Partners Investment Group LLC purchased a new stake in shares of Edgewise Therapeutics in the 3rd quarter valued at about $161,000. Finally, Arizona State Retirement System acquired a new position in Edgewise Therapeutics during the 2nd quarter worth approximately $188,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on EWTX shares. Wedbush increased their price target on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Truist Financial raised their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, November 27th. Royal Bank of Canada restated an "outperform" rating and issued a $32.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday, August 12th. Finally, Evercore ISI initiated coverage on shares of Edgewise Therapeutics in a report on Friday, November 22nd. They issued an "outperform" rating and a $45.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of "Buy" and an average target price of $42.33.

Insider Activity at Edgewise Therapeutics

In other news, CFO R Michael Carruthers sold 125,092 shares of the firm's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.57, for a total transaction of $3,573,878.44. Following the transaction, the chief financial officer now owns 6,904 shares in the company, valued at approximately $197,247.28. This trade represents a 94.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel John R. Moore sold 50,000 shares of Edgewise Therapeutics stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.37, for a total value of $1,418,500.00. Following the completion of the transaction, the general counsel now owns 3,252 shares in the company, valued at $92,259.24. This trade represents a 93.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is owned by company insiders.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX traded down $1.46 during trading on Monday, reaching $31.54. The stock had a trading volume of 885,886 shares, compared to its average volume of 934,382. Edgewise Therapeutics, Inc. has a 52 week low of $6.07 and a 52 week high of $38.12. The firm's fifty day moving average is $31.92 and its 200 day moving average is $23.29. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -22.00 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.01. On average, research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

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.