US Bancorp DE Has $88,000 Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

US Bancorp DE lessened its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 61.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,309 shares of the company’s stock after selling 5,227 shares during the quarter. US Bancorp DE’s holdings in Edgewise Therapeutics were worth $88,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB bought a new stake in shares of Edgewise Therapeutics during the fourth quarter valued at approximately $582,000. New York State Common Retirement Fund boosted its position in Edgewise Therapeutics by 6.4% in the 4th quarter. New York State Common Retirement Fund now owns 71,366 shares of the company’s stock valued at $1,905,000 after buying an additional 4,284 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $275,000. Rhumbline Advisers raised 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 worth $2,734,000 after acquiring an additional 1,525 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in shares of Edgewise Therapeutics by 11.3% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock valued at $536,000 after acquiring an additional 2,042 shares during the period.

Insiders Place Their Bets

In related news, CMO Joanne M. Donovan sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total value of $690,750.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,358 shares of the company’s stock, valued at approximately $451,971.54. This represents a 60.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the transaction, the insider now owns 14,863 shares of the company’s stock, valued at approximately $406,800.31. This trade represents a 87.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,545 shares of company stock worth $4,605,305 over the last ninety days. 24.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on EWTX shares. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price objective for the company. Evercore ISI lifted their price target 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. Scotiabank started coverage on shares of Edgewise Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. Truist Financial lifted their target price on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $56.00 price target on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Edgewise Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ:EWTX opened at $26.43 on Tuesday. The company has a 50 day moving average price of $26.68 and a two-hundred day moving average price of $28.22. The company has a market capitalization of $2.52 billion, a PE ratio of -17.62 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 52 week low of $14.90 and a 52 week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). On average, sell-side analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Edgewise Therapeutics Company 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.