Artisan Partners Limited Partnership Has $28.61 Million Stock Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Artisan Partners Limited Partnership raised its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,071,596 shares of the company’s stock after purchasing an additional 70,964 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Edgewise Therapeutics were worth $28,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Rhumbline Advisers lifted its position in shares of Edgewise Therapeutics by 1.5% during the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company’s stock worth $2,734,000 after buying an additional 1,525 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Edgewise Therapeutics by 18.9% during the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company’s stock valued at $298,000 after acquiring an additional 1,772 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of Edgewise Therapeutics by 11.3% in the 4th 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 in the last quarter. Quantbot Technologies LP bought a new stake in shares of Edgewise Therapeutics in the 4th quarter worth about $103,000. Finally, New York State Common Retirement Fund increased its position in shares of Edgewise Therapeutics by 6.4% during the 4th quarter. New York State Common Retirement Fund now owns 71,366 shares of the company’s stock worth $1,905,000 after purchasing an additional 4,284 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EWTX shares. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target on the stock. Scotiabank began coverage on Edgewise Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Finally, Evercore ISI boosted their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.38.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX opened at $23.27 on Friday. The company has a market cap of $2.22 billion, a price-to-earnings ratio of -15.51 and a beta of 0.22. The stock’s fifty day moving average price is $26.27 and its two-hundred day moving average price is $28.44. 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 the consensus estimate of ($0.39) by ($0.03). On average, equities analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Edgewise Therapeutics

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

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.