Victory Capital Management Inc. Purchases Shares of 21,568 Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Victory Capital Management Inc. acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 21,568 shares of the company’s stock, valued at approximately $576,000.

Other institutional investors have also modified their holdings of the company. Quest Partners LLC lifted its stake in shares of Edgewise Therapeutics by 418.7% in the 3rd quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock valued at $241,000 after purchasing an additional 7,293 shares during the last quarter. AlphaCentric Advisors LLC bought a new stake in shares of Edgewise Therapeutics during the 4th quarter worth approximately $275,000. Orion Portfolio Solutions LLC purchased a new position in Edgewise Therapeutics during the 3rd quarter worth $347,000. Glenmede Trust Co. NA purchased a new position in Edgewise Therapeutics during the 3rd quarter worth $483,000. Finally, Intech Investment Management LLC purchased a new position in Edgewise Therapeutics during the 3rd quarter worth $531,000.

Insider Buying and Selling

In related news, insider Alan J. Russell sold 100,000 shares of the business’s stock in a transaction on 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 directly owns 14,863 shares in the company, valued at $406,800.31. The trade was a 87.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kevin Koch sold 8,636 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $30.03, for a total value of $259,339.08. Following the transaction, the chief executive officer now owns 14,478 shares in the company, valued at approximately $434,774.34. This trade represents a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,545 shares of company stock worth $4,605,305 in the last ninety days. 24.11% of the stock is owned by insiders.

Edgewise Therapeutics Trading Down 0.9 %

Shares of NASDAQ:EWTX opened at $23.61 on Friday. Edgewise Therapeutics, Inc. has a 12-month low of $14.90 and a 12-month high of $38.12. The business’s fifty day simple moving average is $26.65 and its 200-day simple moving average is $28.25. The company has a market capitalization of $2.25 billion, a PE ratio of -15.74 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTX) last announced its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Research analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Evercore ISI raised their price objective on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $56.00 price objective on shares of Edgewise Therapeutics in a report on Tuesday, March 4th. Truist Financial raised their price objective on Edgewise Therapeutics from $33.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a “hold” rating and a $30.00 price target on the stock. Finally, Scotiabank initiated coverage on Edgewise Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.38.

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.