State Street Corp grew its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,685,115 shares of the company's stock after buying an additional 20,020 shares during the period. State Street Corp owned 1.78% of Edgewise Therapeutics worth $44,976,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in EWTX. Quest Partners LLC lifted its position in 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 acquiring an additional 1,064 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Edgewise Therapeutics during the second quarter worth about $35,000. Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 604 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Edgewise Therapeutics in the 3rd quarter worth approximately $161,000. Finally, Arizona State Retirement System acquired a new position in Edgewise Therapeutics in the 2nd quarter worth approximately $188,000.
Insider Buying and Selling at Edgewise Therapeutics
In related news, General Counsel John R. Moore sold 20,922 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $27.63, for a total transaction of $578,074.86. Following the completion of the transaction, the general counsel now owns 3,252 shares in the company, valued at $89,852.76. This represents a 86.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.11% of the company's stock.
Edgewise Therapeutics Price Performance
NASDAQ EWTX traded down $0.02 during trading hours on Friday, reaching $30.78. The company's stock had a trading volume of 1,110,575 shares, compared to its average volume of 941,777. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -20.52 and a beta of 0.12. The company's 50-day moving average is $32.83 and its two-hundred day moving average is $24.47. Edgewise Therapeutics, Inc. has a 1-year low of $8.64 and a 1-year high of $38.12.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. Equities analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently commented on EWTX. Evercore ISI upped their price objective on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Tuesday. Truist Financial increased their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a "buy" rating in a research report on Wednesday, November 27th. Piper Sandler boosted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Wedbush upped their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $32.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $43.17.
Check Out Our Latest Analysis on Edgewise Therapeutics
About Edgewise Therapeutics
(
Free Report)
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.
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