Victory Capital Management Inc. Takes Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Victory Capital Management Inc. purchased a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 21,568 shares of the company's stock, valued at approximately $576,000.

Several other hedge funds have also recently modified their holdings of EWTX. Charles Schwab Investment Management Inc. boosted its position in Edgewise Therapeutics by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company's stock valued at $14,347,000 after acquiring an additional 15,273 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in Edgewise Therapeutics during the fourth quarter valued at about $582,000. New York State Common Retirement Fund grew its stake in Edgewise Therapeutics by 6.4% in the fourth quarter. New York State Common Retirement Fund now owns 71,366 shares of the company's stock valued at $1,905,000 after purchasing an additional 4,284 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in Edgewise Therapeutics in the fourth quarter worth about $275,000. Finally, Rhumbline Advisers lifted its position in shares of Edgewise Therapeutics by 1.5% during the fourth quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock valued at $2,734,000 after buying an additional 1,525 shares during the last quarter.

Insiders Place Their Bets

In other Edgewise Therapeutics news, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction that occurred 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 owns 14,478 shares in the company, valued at approximately $434,774.34. This represents a 37.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Alan J. Russell sold 100,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the sale, the insider now directly owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,836 shares of company stock valued at $3,723,245. Company insiders own 24.11% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on EWTX. Stifel Nicolaus initiated 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. Truist Financial increased their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, November 27th. Scotiabank started coverage on shares of Edgewise Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price objective on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $56.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Finally, Evercore ISI boosted their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.38.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX traded down $0.57 during midday trading on Tuesday, hitting $22.80. The company's stock had a trading volume of 1,011,824 shares, compared to its average volume of 942,688. Edgewise Therapeutics, Inc. has a fifty-two week low of $14.90 and a fifty-two week high of $38.12. The firm has a market cap of $2.17 billion, a P/E ratio of -15.20 and a beta of 0.22. The firm's 50 day moving average is $26.61 and its 200-day moving average is $28.44.

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