Barclays PLC Has $3.57 Million Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Barclays PLC raised its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 133,657 shares of the company’s stock after buying an additional 14,307 shares during the period. Barclays PLC owned 0.14% of Edgewise Therapeutics worth $3,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its stake in Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company’s stock valued at $203,000 after buying an additional 482 shares during the last quarter. Optimize Financial Inc acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at $322,000. Kennedy Capital Management LLC increased its stake in shares of Edgewise Therapeutics by 4.2% during the 4th quarter. Kennedy Capital Management LLC now owns 236,642 shares of the company’s stock worth $6,318,000 after purchasing an additional 9,619 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Edgewise Therapeutics by 5.7% during the 4th quarter. Legal & General Group Plc now owns 50,292 shares of the company’s stock worth $1,343,000 after purchasing an additional 2,734 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Edgewise Therapeutics during the 4th quarter worth about $883,000.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price objective on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Scotiabank lowered shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Piper Sandler restated an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $40.13.

Edgewise Therapeutics Stock Performance

Shares of EWTX stock opened at $15.68 on Tuesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -10.45 and a beta of 0.32. The company has a 50-day simple moving average of $20.10 and a 200 day simple moving average of $26.69. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $38.12.

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

Insider Buying and Selling at Edgewise Therapeutics

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc acquired 496,771 shares of the business’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the acquisition, the director now directly owns 14,809,075 shares of the company’s stock, valued at approximately $298,106,679.75. This trade represents a 3.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the sale, the insider now directly owns 14,863 shares of the company’s stock, valued at $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.11% of the company’s stock.

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.