Mirae Asset Global Investments Co. Ltd. Has $228,000 Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Mirae Asset Global Investments Co. Ltd. grew its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 29.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,833 shares of the company’s stock after buying an additional 4,785 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Edgewise Therapeutics were worth $228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. boosted its stake in Edgewise Therapeutics by 349.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,338 shares of the company’s stock worth $80,000 after purchasing an additional 5,704 shares during the period. Pale Fire Capital SE acquired a new position in Edgewise Therapeutics in the 3rd quarter worth $90,000. Corton Capital Inc. acquired a new position in Edgewise Therapeutics in the 3rd quarter worth $98,000. SG Americas Securities LLC acquired a new position in Edgewise Therapeutics in the 3rd quarter worth $107,000. Finally, New York State Common Retirement Fund boosted its stake in Edgewise Therapeutics by 228.6% in the 3rd quarter. New York State Common Retirement Fund now owns 43,871 shares of the company’s stock worth $251,000 after purchasing an additional 30,522 shares during the period.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, General Counsel John R. Moore sold 17,993 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $359,860.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, General Counsel John R. Moore sold 17,993 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $20.00, for a total transaction of $359,860.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Behrad Derakhshan sold 4,600 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $20.01, for a total transaction of $92,046.00. Following the transaction, the insider now directly owns 7,020 shares in the company, valued at $140,470.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,622 shares of company stock worth $612,566. Insiders own 31.95% of the company’s stock.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $16.17 on Friday. The firm’s 50-day moving average is $16.79 and its 200-day moving average is $12.35. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of -10.23 and a beta of 0.14. Edgewise Therapeutics, Inc. has a 52-week low of $5.12 and a 52-week high of $20.69.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.47) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.03). Sell-side analysts predict that Edgewise Therapeutics, Inc. will post -1.76 EPS for the current fiscal year.

Analyst Ratings Changes

EWTX has been the subject of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and issued a $25.00 target price on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Piper Sandler began coverage on shares of Edgewise Therapeutics in a research report on Thursday, March 7th. They set an “overweight” rating and a $48.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $26.00 price target on shares of Edgewise Therapeutics in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada boosted their price target on shares of Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Edgewise Therapeutics currently has an average rating of “Buy” and a consensus price target of $31.20.

About Edgewise Therapeutics

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.