Intech Investment Management LLC Acquires 14,944 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Intech Investment Management LLC increased its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 75.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 34,844 shares of the company’s stock after purchasing an additional 14,944 shares during the quarter. Intech Investment Management LLC’s holdings in Edgewise Therapeutics were worth $930,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Quest Partners LLC boosted its holdings in shares of Edgewise Therapeutics by 418.7% in the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock valued at $241,000 after buying an additional 7,293 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Edgewise Therapeutics during the fourth quarter worth $275,000. Orion Portfolio Solutions LLC bought a new stake in Edgewise Therapeutics in the 3rd quarter valued at $347,000. Glenmede Trust Co. NA acquired a new position in Edgewise Therapeutics in the 3rd quarter worth $483,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in 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 worth $536,000 after purchasing an additional 2,042 shares in the last quarter.

Edgewise Therapeutics Stock Down 0.9 %

Shares of Edgewise Therapeutics stock opened at $23.61 on Monday. The stock has a market cap of $2.25 billion, a P/E ratio of -15.74 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 12-month low of $14.90 and a 12-month high of $38.12. The business’s 50 day moving average is $26.65 and its 200-day moving average is $28.40.

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

Insider Activity

In other news, CEO Kevin Koch sold 8,636 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the sale, the chief executive officer now directly owns 14,478 shares of the company’s stock, valued at $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Marc Semigran sold 29,709 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $29.69, for a total value of $882,060.21. Following the transaction, the insider now directly owns 6,716 shares in the company, valued at $199,398.04. The trade was a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 164,545 shares of company stock valued at $4,605,305. 24.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EWTX shares. Truist Financial boosted their price target on Edgewise Therapeutics from $33.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Evercore ISI boosted their target price 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 note on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target for the company. Scotiabank began 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $56.00 target price on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.38.

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.