Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stock Holdings Lifted by Parkman Healthcare Partners LLC

Parkman Healthcare Partners LLC increased its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 14.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,070 shares of the company's stock after purchasing an additional 82,553 shares during the quarter. Edgewise Therapeutics accounts for 2.2% of Parkman Healthcare Partners LLC's portfolio, making the stock its 12th largest position. Parkman Healthcare Partners LLC owned 0.69% of Edgewise Therapeutics worth $17,537,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC boosted its stake 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 purchasing an additional 1,951,220 shares during the period. HighVista Strategies LLC purchased a new position in shares of Edgewise Therapeutics in the third quarter valued at $2,371,000. Fred Alger Management LLC purchased a new position in shares of Edgewise Therapeutics in the third quarter valued at $564,000. Braidwell LP acquired a new stake in Edgewise Therapeutics in the third quarter valued at $52,267,000. Finally, Walleye Capital LLC acquired a new stake in Edgewise Therapeutics in the third quarter valued at $6,466,000.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore ISI assumed coverage on shares of Edgewise Therapeutics in a report on Friday, November 22nd. They set an "outperform" rating and a $45.00 target price on the stock. Truist Financial increased 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 reissued an "outperform" rating and set a $32.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, September 17th. JPMorgan Chase & Co. increased their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, August 12th. Finally, Piper Sandler increased their target price on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $42.33.

Insider Activity at Edgewise Therapeutics

In related news, CFO R Michael Carruthers sold 125,092 shares of the business's stock in a transaction that occurred 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 sale, the chief financial officer now owns 6,904 shares of the company's stock, valued at $197,247.28. The trade was a 94.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan J. Russell sold 75,000 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.27, for a total value of $2,120,250.00. Following the completion of the transaction, the insider now directly owns 12,719 shares in the company, valued at $359,566.13. This represents a 85.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 278,176 shares of company stock worth $7,893,316 over the last quarter. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Price Performance

Shares of EWTX stock traded up $0.10 during trading hours on Wednesday, reaching $32.06. The stock had a trading volume of 825,353 shares, compared to its average volume of 932,046. Edgewise Therapeutics, Inc. has a twelve month low of $6.44 and a twelve month high of $38.12. The firm has a 50-day simple moving average of $32.14 and a 200-day simple moving average of $23.48. The firm has a market capitalization of $3.04 billion, a PE ratio of -21.39 and a beta of 0.12.

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

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.