Parkman Healthcare Partners LLC Purchases 82,553 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Parkman Healthcare Partners LLC raised its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 14.4% during the third quarter, Holdings Channel reports. The fund owned 657,070 shares of the company’s stock after buying an additional 82,553 shares during the period. Edgewise Therapeutics comprises about 2.2% of Parkman Healthcare Partners LLC’s investment portfolio, making the stock its 12th biggest position. Parkman Healthcare Partners LLC’s holdings in Edgewise Therapeutics were worth $17,537,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Quest Partners LLC increased its stake in Edgewise Therapeutics by 156.9% in the 2nd quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock worth $31,000 after purchasing an additional 1,064 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Edgewise Therapeutics in the second quarter worth $35,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Edgewise Therapeutics by 21.7% during the 3rd 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 purchased a new stake in Edgewise Therapeutics during the 3rd quarter valued at $161,000. Finally, US Bancorp DE increased its position in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after acquiring an additional 8,468 shares during the period.

Analyst Ratings Changes

EWTX has been the subject of a number of analyst reports. 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. Truist Financial raised their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Wedbush boosted their price objective on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. increased their price target on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics has an average rating of “Buy” and an average price target of $42.33.

Insider Buying and Selling at Edgewise Therapeutics

In other news, CFO R Michael Carruthers sold 125,092 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $28.57, for a total value of $3,573,878.44. Following the completion of the transaction, the chief financial officer now owns 6,904 shares in the company, valued at $197,247.28. The trade was a 94.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the insider now directly owns 12,719 shares in the company, valued at approximately $359,566.13. The trade was a 85.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is owned by corporate insiders.

Edgewise Therapeutics Price Performance

NASDAQ:EWTX opened at $31.96 on Wednesday. Edgewise Therapeutics, Inc. has a one year low of $6.07 and a one year high of $38.12. The company’s 50-day simple moving average is $32.02 and its 200 day simple moving average is $23.38.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly 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. On average, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

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.