Price T Rowe Associates Inc. MD Buys 5,242 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Price T Rowe Associates Inc. MD increased its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 22.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,050 shares of the company’s stock after buying an additional 5,242 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Edgewise Therapeutics were worth $776,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Edgewise Therapeutics by 291.0% in the third quarter. Barclays PLC now owns 119,350 shares of the company’s stock worth $3,186,000 after acquiring an additional 88,826 shares during the last quarter. Franklin Resources Inc. raised its holdings in Edgewise Therapeutics by 84.2% in the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company’s stock worth $1,207,000 after buying an additional 20,674 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Edgewise Therapeutics by 146.3% in the third quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock worth $4,231,000 after buying an additional 94,147 shares in the last quarter. Moody Aldrich Partners LLC grew its holdings in shares of Edgewise Therapeutics by 24.3% during the fourth quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company’s stock valued at $5,018,000 after buying an additional 36,775 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position 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 in the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $14.58 on Monday. The stock has a market capitalization of $1.53 billion, a P/E ratio of -9.72 and a beta of 0.36. The business’s 50 day moving average is $18.25 and its two-hundred day moving average is $25.50. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.02. As a group, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 5,187 shares of Edgewise Therapeutics stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $85,326.15. Following the transaction, the chief marketing officer now owns 21,588 shares in the company, valued at $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan J. Russell sold 1,551 shares of the 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 $25,513.95. Following the sale, the insider now directly owns 18,521 shares of the company’s stock, valued at $304,670.45. The trade was a 7.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,258 shares of company stock valued at $234,544. 24.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EWTX. Guggenheim initiated coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They set a “buy” rating and a $41.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Scotiabank downgraded 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 restated an “outperform” rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Finally, Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.22.

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.