Geode Capital Management LLC Has $42.70 Million Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Geode Capital Management LLC cut its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,599,535 shares of the company’s stock after selling 73,118 shares during the quarter. Geode Capital Management LLC owned about 1.69% of Edgewise Therapeutics worth $42,699,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in shares of Edgewise Therapeutics by 26.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 268,712 shares of the company’s stock valued at $4,840,000 after purchasing an additional 56,447 shares during the period. Rhumbline Advisers increased its holdings in Edgewise Therapeutics by 16.7% in the second quarter. Rhumbline Advisers now owns 98,269 shares of the company’s stock valued at $1,770,000 after purchasing an additional 14,041 shares during the last quarter. Arizona State Retirement System bought a new stake in Edgewise Therapeutics in the second quarter valued at about $188,000. Quest Partners LLC lifted its stake in 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. Finally, State of New Jersey Common Pension Fund D bought a new position in Edgewise Therapeutics during the second quarter worth about $247,000.

Edgewise Therapeutics Stock Down 2.6 %

Shares of NASDAQ:EWTX opened at $29.98 on Tuesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -19.99 and a beta of 0.12. Edgewise Therapeutics, Inc. has a 12 month low of $9.00 and a 12 month high of $38.12. The company’s fifty day simple moving average is $32.81 and its 200 day simple moving average is $24.66.

Edgewise Therapeutics (NASDAQ:EWTX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.01. Research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on EWTX. Evercore ISI upped their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, September 17th. Wedbush lifted their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Piper Sandler upped 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. Finally, Truist Financial raised their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $43.17.

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.