Intech Investment Management LLC Buys New Stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Intech Investment Management LLC purchased a new position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,900 shares of the company’s stock, valued at approximately $531,000.

Several other large investors also recently bought and sold shares of EWTX. Meeder Asset Management Inc. increased its position in Edgewise Therapeutics by 69.9% during the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock worth $88,000 after purchasing an additional 1,361 shares in the last quarter. Quest Partners LLC lifted its position in Edgewise Therapeutics by 418.7% in the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock worth $241,000 after purchasing an additional 7,293 shares during the period. Quantum Private Wealth LLC grew its position in Edgewise Therapeutics by 10.0% in the third quarter. Quantum Private Wealth LLC now owns 73,424 shares of the company’s stock worth $1,960,000 after buying an additional 6,650 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new position in Edgewise Therapeutics in the 3rd quarter worth approximately $161,000. Finally, US Bancorp DE lifted its position in Edgewise Therapeutics by 12,452.9% in the 3rd quarter. US Bancorp DE now owns 8,536 shares of the company’s stock worth $228,000 after buying an additional 8,468 shares in the last quarter.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 7,162 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.29, for a total value of $202,612.98. Following the completion of the transaction, the chief marketing officer now owns 14,538 shares in the company, valued at approximately $411,280.02. This represents a 33.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Alan J. Russell sold 75,000 shares of Edgewise Therapeutics stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $28.27, for a total transaction of $2,120,250.00. Following the completion of the sale, the insider now owns 12,719 shares in the company, valued at approximately $359,566.13. This trade represents a 85.50 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 278,176 shares of company stock worth $7,893,316. 24.11% of the stock is currently owned by company insiders.

Edgewise Therapeutics Stock Up 2.5 %

NASDAQ EWTX opened at $33.00 on Monday. The stock’s 50 day moving average is $31.92 and its 200 day moving average is $23.25. Edgewise Therapeutics, Inc. has a twelve month low of $5.93 and a twelve month high of $38.12. The firm has a market capitalization of $3.12 billion, a PE ratio of -22.00 and a beta of 0.14.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.01. On average, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on EWTX. Truist Financial raised their price target on shares of Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Piper Sandler boosted their price objective on shares of Edgewise Therapeutics from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wedbush upped their price objective on Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of Edgewise Therapeutics from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Evercore ISI initiated coverage on shares of Edgewise Therapeutics in a research note on Friday, November 22nd. They issued an “outperform” rating and a $45.00 price objective for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.33.

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.