EFG Asset Management North America Corp. Acquires New Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

EFG Asset Management North America Corp. bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the fourth quarter, Holdings Channel.com reports. The firm bought 41,338 shares of the company’s stock, valued at approximately $1,103,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its position in shares of 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 bought a new stake in Edgewise Therapeutics during the 3rd quarter valued at $52,267,000. State Street Corp boosted its position in Edgewise Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 1,685,115 shares of the company’s stock worth $44,976,000 after acquiring an additional 20,020 shares during the period. Parkman Healthcare Partners LLC grew its stake in shares of Edgewise Therapeutics by 14.4% in the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Edgewise Therapeutics by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock worth $14,347,000 after purchasing an additional 15,273 shares in the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $22.80 on Wednesday. Edgewise Therapeutics, Inc. has a one year low of $14.90 and a one year high of $38.12. The business’s 50-day moving average price is $26.51 and its two-hundred day moving average price is $28.48. The company has a market capitalization of $2.17 billion, a P/E ratio of -15.20 and a beta of 0.22.

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

Insiders Place Their Bets

In related 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 value 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan J. Russell sold 100,000 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $27.37, for a total transaction of $2,737,000.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,836 shares of company stock valued at $3,723,245 over the last ninety days. Corporate insiders own 24.11% of the company’s stock.

Analyst Ratings Changes

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

About Edgewise Therapeutics

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.