Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Acquired by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC raised its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 187,932 shares of the company's stock after purchasing an additional 36,775 shares during the period. Moody Aldrich Partners LLC owned 0.20% of Edgewise Therapeutics worth $5,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EWTX. Stifel Nicolaus began 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. Piper Sandler increased their price target on Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Evercore ISI boosted their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday, December 17th. Wedbush upped their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Finally, Truist Financial lifted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $41.29.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX traded up $0.02 on Friday, reaching $28.02. 645,008 shares of the stock traded hands, compared to its average volume of 877,343. Edgewise Therapeutics, Inc. has a 12 month low of $14.90 and a 12 month high of $38.12. The company has a market cap of $2.65 billion, a price-to-earnings ratio of -18.68 and a beta of 0.20. The company has a fifty day moving average price of $28.82 and a 200-day moving average price of $26.40.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.01. As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Marc Semigran sold 29,709 shares of Edgewise Therapeutics stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total transaction of $882,060.21. Following the transaction, the insider now directly owns 6,716 shares of the company's stock, valued at $199,398.04. This trade represents a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Alan J. Russell sold 100,000 shares of the company's stock in a transaction on 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 sale, the insider now 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 disclosure for this sale can be found here. In the last quarter, insiders sold 154,709 shares of company stock worth $4,309,810. 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.