Pictet Asset Management Holding SA Takes $8.04 Million Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Pictet Asset Management Holding SA purchased a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 301,241 shares of the company's stock, valued at approximately $8,043,000. Pictet Asset Management Holding SA owned about 0.32% of Edgewise Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Quantbot Technologies LP acquired a new position in shares of Edgewise Therapeutics during the fourth quarter valued at about $103,000. KLP Kapitalforvaltning AS acquired a new position in Edgewise Therapeutics during the 4th quarter valued at approximately $182,000. AlphaCentric Advisors LLC purchased a new position in shares of Edgewise Therapeutics in the fourth quarter worth $275,000. Teacher Retirement System of Texas lifted its stake in shares of Edgewise Therapeutics by 18.9% during the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock worth $298,000 after buying an additional 1,772 shares during the period. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of Edgewise Therapeutics during the third quarter valued at $347,000.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc bought 496,771 shares of Edgewise Therapeutics stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $20.13 per share, with a total value of $10,000,000.23. Following the purchase, the director now directly owns 14,809,075 shares in the company, valued at $298,106,679.75. This represents a 3.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,836 shares of company stock valued at $986,245 in the last ninety days. 24.11% of the stock is currently owned by corporate insiders.

Edgewise Therapeutics Trading Down 2.9 %

Edgewise Therapeutics stock traded down $0.34 during mid-day trading on Tuesday, hitting $11.49. The company had a trading volume of 2,805,652 shares, compared to its average volume of 1,101,144. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.66 and a beta of 0.32. Edgewise Therapeutics, Inc. has a 12-month low of $10.60 and a 12-month high of $38.12. The company's fifty day moving average is $24.22 and its 200-day moving average is $28.18.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). As a group, sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on EWTX shares. Evercore ISI raised their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 17th. Royal Bank of Canada reduced their price objective on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Scotiabank lowered Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price target on the stock. Finally, Piper Sandler restated an "overweight" rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently 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.