Meeder Asset Management Inc. Takes Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Meeder Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,946 shares of the company’s stock, valued at approximately $35,000.

Several other institutional investors have also recently made changes to their positions in the company. Quest Partners LLC raised its stake in shares of Edgewise Therapeutics by 156.9% in the second quarter. Quest Partners LLC now owns 1,742 shares of the company’s stock valued at $31,000 after buying an additional 1,064 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Edgewise Therapeutics by 37.3% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock valued at $105,000 after buying an additional 1,561 shares in the last quarter. Arizona State Retirement System bought a new stake in shares of Edgewise Therapeutics during the second quarter valued at about $188,000. Entropy Technologies LP purchased a new stake in shares of Edgewise Therapeutics in the first quarter worth about $231,000. Finally, State of New Jersey Common Pension Fund D bought a new position in shares of Edgewise Therapeutics in the second quarter valued at approximately $247,000.

Analyst Ratings Changes

EWTX has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Wedbush restated an “outperform” rating and set a $31.00 target price on shares of Edgewise Therapeutics in a research report on Friday, August 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $48.00 price target on shares of Edgewise Therapeutics in a report on Monday, July 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $32.00 price objective on shares of Edgewise Therapeutics in a report on Thursday, July 25th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $33.40.

Edgewise Therapeutics Price Performance

Shares of Edgewise Therapeutics stock opened at $18.83 on Monday. Edgewise Therapeutics, Inc. has a one year low of $5.12 and a one year high of $23.50. The stock has a market capitalization of $1.76 billion, a P/E ratio of -12.15 and a beta of 0.15. The business’s 50 day simple moving average is $18.95 and its two-hundred day simple moving average is $17.94.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.02. Sell-side analysts expect that Edgewise Therapeutics, Inc. will post -1.48 earnings per share for the current fiscal year.

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.