US Bancorp DE Purchases 8,468 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

US Bancorp DE grew its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 12,452.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,536 shares of the company’s stock after purchasing an additional 8,468 shares during the quarter. US Bancorp DE’s holdings in Edgewise Therapeutics were worth $228,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC grew its holdings in Edgewise Therapeutics by 156.9% in the 2nd 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 in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Edgewise Therapeutics in the second quarter valued at about $35,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Edgewise Therapeutics by 21.7% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock valued at $88,000 after acquiring an additional 604 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Edgewise Therapeutics by 37.3% during the first quarter. Ameritas Investment Partners Inc. now owns 5,751 shares of the company’s stock worth $105,000 after acquiring an additional 1,561 shares during the period. Finally, Arizona State Retirement System acquired a new stake in Edgewise Therapeutics in the 2nd quarter worth about $188,000.

Insiders Place Their Bets

In related news, CMO Joanne M. Donovan sold 7,162 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $28.29, for a total value of $202,612.98. Following the sale, the chief marketing officer now owns 14,538 shares of the company’s stock, valued at $411,280.02. The trade was a 33.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel John R. Moore sold 20,922 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $27.63, for a total value of $578,074.86. Following the transaction, the general counsel now directly owns 3,252 shares of the company’s stock, valued at approximately $89,852.76. This represents a 86.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 278,176 shares of company stock valued at $7,893,316 in the last 90 days. Corporate insiders own 24.11% of the company’s stock.

Analyst Ratings Changes

EWTX has been the topic of a number of analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $32.00 target price on shares of Edgewise Therapeutics in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their price objective on Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Piper Sandler lifted their price objective on Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Wedbush raised their price target 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 price objective on shares of Edgewise Therapeutics from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Edgewise Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $38.40.

Edgewise Therapeutics Price Performance

EWTX stock opened at $32.87 on Friday. Edgewise Therapeutics, Inc. has a 1 year low of $5.93 and a 1 year high of $38.12. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -21.93 and a beta of 0.14. The company has a 50 day simple moving average of $28.93 and a 200 day simple moving average of $22.16.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, equities research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.46 EPS for the current fiscal year.

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.