New Leaf Venture Partners L.L.C. Has $27.51 Million Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

New Leaf Venture Partners L.L.C. decreased its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,030,161 shares of the company's stock after selling 523,500 shares during the quarter. Edgewise Therapeutics accounts for approximately 36.8% of New Leaf Venture Partners L.L.C.'s holdings, making the stock its 2nd biggest position. New Leaf Venture Partners L.L.C. owned approximately 1.09% of Edgewise Therapeutics worth $27,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in shares of Edgewise Therapeutics during the 4th quarter valued at approximately $103,000. KLP Kapitalforvaltning AS purchased a new position in Edgewise Therapeutics in the 4th quarter worth about $182,000. Summit Investment Advisors Inc. boosted its holdings in shares of Edgewise Therapeutics by 6.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock valued at $203,000 after purchasing an additional 482 shares during the period. AlphaCentric Advisors LLC bought a new position in shares of Edgewise Therapeutics during the 4th quarter worth $275,000. Finally, Teacher Retirement System of Texas increased its position in Edgewise Therapeutics by 18.9% during the 4th quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock valued at $298,000 after purchasing an additional 1,772 shares during the period.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX traded up $0.38 during trading hours on Friday, hitting $13.41. The stock had a trading volume of 990,800 shares, compared to its average volume of 1,137,018. The stock's fifty day simple moving average is $21.71 and its 200 day simple moving average is $27.40. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -8.94 and a beta of 0.32. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.03). As a group, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total value of $259,339.08. Following the sale, the chief executive officer now directly owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CMO Joanne M. Donovan sold 25,000 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total value of $690,750.00. Following the sale, the chief marketing officer now directly 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. Over the last quarter, insiders have sold 34,836 shares of company stock valued at $986,245. 24.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on EWTX. Stifel Nicolaus began coverage on 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 reissued an "overweight" rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Scotiabank downgraded shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada cut their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $40.38.

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.