Candriam S.C.A. Sells 40,659 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Candriam S.C.A. cut its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 13.8% in the fourth quarter, Holdings Channel reports. The fund owned 253,965 shares of the company’s stock after selling 40,659 shares during the period. Candriam S.C.A.’s holdings in Edgewise Therapeutics were worth $6,781,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its holdings in shares of Edgewise Therapeutics by 69.9% in the third quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after buying an additional 1,361 shares during the last quarter. US Bancorp DE raised its holdings in shares of Edgewise Therapeutics by 12,452.9% in the third quarter. US Bancorp DE now owns 8,536 shares of the company’s stock valued at $228,000 after buying an additional 8,468 shares during the last quarter. Quest Partners LLC raised 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 last quarter. AlphaCentric Advisors LLC bought a new position in shares of Edgewise Therapeutics in the fourth quarter valued at about $275,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Edgewise Therapeutics in the third quarter valued at about $347,000.

Edgewise Therapeutics Stock Down 0.4 %

Shares of Edgewise Therapeutics stock opened at $28.01 on Friday. 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 $26.78 and its 200-day moving average is $27.76. The stock has a market cap of $2.67 billion, a P/E ratio of -18.67 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates 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 at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total value of $2,737,000.00. Following the transaction, the insider now directly owns 14,863 shares of the company’s stock, valued at $406,800.31. This represents a 87.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Marc Semigran sold 29,709 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the completion of the transaction, the insider now directly owns 6,716 shares in the company, valued at approximately $199,398.04. This represents a 81.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,545 shares of company stock worth $4,605,305. Company insiders own 24.11% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on EWTX shares. Evercore ISI lifted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $56.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday. Scotiabank started coverage on Edgewise Therapeutics in a research report on Friday. They set a “sector outperform” rating and a $50.00 target price for the company. Wedbush boosted their target price on Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Truist Financial boosted their target price on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $45.38.

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.