Teacher Retirement System of Texas Buys 1,772 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Teacher Retirement System of Texas increased its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 18.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,143 shares of the company’s stock after acquiring an additional 1,772 shares during the period. Teacher Retirement System of Texas’ holdings in Edgewise Therapeutics were worth $298,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Intech Investment Management LLC raised its stake in shares of Edgewise Therapeutics by 75.1% during the 4th quarter. Intech Investment Management LLC now owns 34,844 shares of the company’s stock worth $930,000 after purchasing an additional 14,944 shares in the last quarter. Amundi raised its position in Edgewise Therapeutics by 127.2% during the fourth quarter. Amundi now owns 341,687 shares of the company’s stock worth $8,686,000 after acquiring an additional 191,267 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Edgewise Therapeutics in the fourth quarter valued at $576,000. Charles Schwab Investment Management Inc. grew its position in shares of Edgewise Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 537,359 shares of the company’s stock valued at $14,347,000 after acquiring an additional 15,273 shares during the period. Finally, Handelsbanken Fonder AB acquired a new position in shares of Edgewise Therapeutics during the 4th quarter worth about $582,000.

Insider Activity at Edgewise Therapeutics

In other news, CMO Joanne M. Donovan sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total transaction of $690,750.00. Following the completion of the sale, the chief marketing officer now directly owns 16,358 shares in the company, valued at approximately $451,971.54. This represents a 60.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan J. Russell sold 1,200 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the sale, the insider now directly owns 14,863 shares in the company, valued at approximately $447,822.19. This trade represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,836 shares of company stock worth $986,245. Corporate insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Trading Down 8.5 %

Shares of NASDAQ EWTX opened at $20.13 on Wednesday. The firm has a market cap of $1.92 billion, a P/E ratio of -13.42 and a beta of 0.22. The business’s 50 day moving average is $26.04 and its 200-day moving average is $28.64. Edgewise Therapeutics, Inc. has a 1-year low of $14.90 and a 1-year high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.03). Analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on EWTX shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $56.00 target price on shares of Edgewise Therapeutics in a research note on Tuesday, March 4th. Evercore ISI lifted their target price on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research note 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 set a “sector outperform” rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.38.

Edgewise Therapeutics 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.