New York State Common Retirement Fund Increases Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

New York State Common Retirement Fund lifted its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,366 shares of the company’s stock after purchasing an additional 4,284 shares during the period. New York State Common Retirement Fund owned about 0.08% of Edgewise Therapeutics worth $1,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EWTX. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Edgewise Therapeutics by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,392 shares of the company’s stock worth $88,000 after acquiring an additional 604 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Edgewise Therapeutics by 69.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,307 shares of the company’s stock valued at $88,000 after purchasing an additional 1,361 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Edgewise Therapeutics by 1.5% in the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company’s stock valued at $2,734,000 after purchasing an additional 1,525 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Edgewise Therapeutics by 11.3% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company’s stock worth $536,000 after buying an additional 2,042 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Edgewise Therapeutics by 5.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 84,294 shares of the company’s stock valued at $2,250,000 after buying an additional 4,426 shares during the last quarter.

Wall Street Analyst Weigh In

EWTX has been the subject of several research reports. Wedbush upped their price target on shares of Edgewise Therapeutics from $44.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Evercore ISI increased their target price on shares of Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Truist Financial increased their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.29.

Insiders Place Their Bets

In related news, insider Marc Semigran sold 29,709 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $29.69, for a total value of $882,060.21. Following the completion of the sale, the insider now owns 6,716 shares in the company, valued at $199,398.04. This trade represents a 81.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alan J. Russell sold 100,000 shares of the company’s stock in a transaction dated 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 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. In the last ninety days, insiders have sold 164,545 shares of company stock worth $4,605,305. Corporate insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock opened at $26.17 on Monday. The stock’s 50 day moving average price is $27.06 and its 200 day moving average price is $27.67. Edgewise Therapeutics, Inc. has a 1-year low of $14.90 and a 1-year high of $38.12. The company has a market cap of $2.48 billion, a PE ratio of -17.45 and a beta of 0.20.

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.