EFG Asset Management North America Corp. Takes $1.10 Million Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

EFG Asset Management North America Corp. bought a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,338 shares of the company’s stock, valued at approximately $1,103,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Janus Henderson Group PLC grew its stake in Edgewise Therapeutics by 74.8% during the third quarter. Janus Henderson Group PLC now owns 4,558,519 shares of the company’s stock worth $121,616,000 after buying an additional 1,951,220 shares during the period. Braidwell LP acquired a new position in shares of Edgewise Therapeutics during the 3rd quarter valued at $52,267,000. State Street Corp lifted its holdings in shares of Edgewise Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company’s stock valued at $44,976,000 after acquiring an additional 20,020 shares in the last quarter. Parkman Healthcare Partners LLC boosted its position in Edgewise Therapeutics by 14.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 657,070 shares of the company’s stock worth $17,537,000 after purchasing an additional 82,553 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Edgewise Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after purchasing an additional 15,273 shares in the last quarter.

Analysts Set New Price Targets

EWTX has been the topic of a number of recent research reports. Truist Financial boosted their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Stifel Nicolaus started coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price target on the stock. Scotiabank started coverage on shares of Edgewise Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $56.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Finally, Evercore ISI upped their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Edgewise Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $45.38.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CEO Kevin Koch sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total transaction of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares of the company’s stock, valued at $434,774.34. This trade represents a 37.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the transaction, the insider now owns 14,863 shares of the company’s stock, valued at approximately $447,822.19. The trade was a 7.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,836 shares of company stock valued at $3,723,245. Insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Down 2.4 %

Shares of EWTX opened at $22.80 on Wednesday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -15.20 and a beta of 0.22. The business’s 50 day moving average is $26.51 and its two-hundred day moving average is $28.48. Edgewise Therapeutics, Inc. has a 52-week low of $14.90 and a 52-week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results 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). On average, equities analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share 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.