Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 1.1% during the 4th quarter, HoldingsChannel reports. The fund owned 4,466,849 shares of the company’s stock after selling 49,214 shares during the period. Vanguard Group Inc.’s holdings in Edgewise Therapeutics were worth $119,265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Rhumbline Advisers boosted its holdings 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 purchasing an additional 1,525 shares during the period. Teacher Retirement System of Texas lifted its position in Edgewise Therapeutics by 18.9% in the 4th quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company’s stock worth $298,000 after buying an additional 1,772 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in shares of Edgewise Therapeutics by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock valued at $536,000 after buying an additional 2,042 shares during the period. Quantbot Technologies LP purchased a new position in shares of Edgewise Therapeutics during the 4th quarter valued at $103,000. Finally, New York State Common Retirement Fund increased its stake in shares of 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 worth $1,905,000 after acquiring an additional 4,284 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler reissued an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Scotiabank lowered Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Evercore ISI boosted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Royal Bank of Canada decreased their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.38.

Insider Buying and Selling

In other news, CMO Joanne M. Donovan sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the completion of the transaction, the chief marketing officer now directly owns 16,358 shares in the company, valued at $451,971.54. The trade was a 60.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc acquired 496,771 shares of Edgewise Therapeutics stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the transaction, the director now directly owns 14,809,075 shares of the company’s stock, valued at $298,106,679.75. This trade represents a 3.47 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 34,836 shares of company stock worth $986,245 in the last quarter. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $11.49 on Wednesday. The stock’s 50 day simple moving average is $24.22 and its 200 day simple moving average is $28.18. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -7.66 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results 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, analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal 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.