Hsbc Holdings PLC Purchases 2,031 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Hsbc Holdings PLC increased its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 23.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,759 shares of the company’s stock after purchasing an additional 2,031 shares during the period. Hsbc Holdings PLC’s holdings in Edgewise Therapeutics were worth $283,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of EWTX. Summit Investment Advisors Inc. lifted its position in shares of Edgewise Therapeutics by 6.8% in the fourth 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. Alliancebernstein L.P. lifted its holdings in Edgewise Therapeutics by 1.7% during the 4th quarter. Alliancebernstein L.P. now owns 77,260 shares of the company’s stock valued at $2,063,000 after purchasing an additional 1,300 shares during the last quarter. Rhumbline Advisers boosted its position in 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 increased its holdings in shares of Edgewise Therapeutics by 18.9% in the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company’s stock valued at $298,000 after purchasing an additional 1,772 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Edgewise Therapeutics by 11.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock valued at $536,000 after purchasing an additional 2,042 shares during the period.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada reduced their target price on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Scotiabank cut Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Wedbush reiterated an “outperform” rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research note on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target for the company. Finally, Guggenheim initiated coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a “buy” rating and a $41.00 price objective on the stock. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Edgewise Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $40.22.

Insider Buying and Selling

In other news, insider Alan J. Russell sold 1,551 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total value of $25,513.95. Following the sale, the insider now directly owns 18,521 shares in the company, valued at approximately $304,670.45. This trade represents a 7.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel John R. Moore sold 1,930 shares of Edgewise Therapeutics stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $31,748.50. Following the sale, the general counsel now directly owns 6,531 shares in the company, valued at $107,434.95. This trade represents a 22.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock worth $234,544 in the last ninety days. 24.11% of the stock is owned by insiders.

Edgewise Therapeutics Trading Down 0.8 %

Shares of NASDAQ:EWTX opened at $14.58 on Friday. The firm has a 50 day moving average of $18.25 and a 200-day moving average of $25.63. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12. The stock has a market capitalization of $1.53 billion, a PE ratio of -9.72 and a beta of 0.36.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. On average, research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Edgewise Therapeutics 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.