Corebridge Financial Inc. Trims Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Corebridge Financial Inc. trimmed its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,090 shares of the company’s stock after selling 2,724 shares during the quarter. Corebridge Financial Inc.’s holdings in Edgewise Therapeutics were worth $964,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EWTX. Amundi lifted its holdings in shares of Edgewise Therapeutics by 127.2% in the 4th quarter. Amundi now owns 341,687 shares of the company’s stock worth $8,686,000 after buying an additional 191,267 shares during the period. JPMorgan Chase & Co. lifted its stake in Edgewise Therapeutics by 146.3% in the third quarter. JPMorgan Chase & Co. now owns 158,506 shares of the company’s stock worth $4,231,000 after acquiring an additional 94,147 shares during the period. Barclays PLC lifted its stake in Edgewise Therapeutics by 291.0% in the third quarter. Barclays PLC now owns 119,350 shares of the company’s stock worth $3,186,000 after acquiring an additional 88,826 shares during the period. Exome Asset Management LLC bought a new position in Edgewise Therapeutics during the 3rd quarter worth about $1,599,000. Finally, Moody Aldrich Partners LLC increased its position in Edgewise Therapeutics by 24.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 187,932 shares of the company’s stock valued at $5,018,000 after purchasing an additional 36,775 shares during the period.

Edgewise Therapeutics Trading Down 15.2 %

NASDAQ EWTX opened at $11.51 on Friday. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -7.67 and a beta of 0.32. The stock has a 50-day moving average of $25.20 and a 200 day moving average of $28.48. Edgewise Therapeutics, Inc. has a twelve month low of $11.50 and a twelve month high of $38.12.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on EWTX. Piper Sandler reiterated an “overweight” rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a research note on Wednesday. Royal Bank of Canada dropped their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday. Evercore ISI boosted their price target on Edgewise Therapeutics from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 17th. Stifel Nicolaus began coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Finally, Scotiabank downgraded shares of Edgewise Therapeutics from a “sector outperform” rating to a “sector perform” rating and reduced their target price for the stock from $50.00 to $14.00 in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.38.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares in the company, valued at $447,822.19. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Orbimed Advisors Llc acquired 496,771 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $20.13 per share, for a total transaction of $10,000,000.23. Following the completion of the acquisition, the director now directly owns 14,809,075 shares of the company’s stock, valued at $298,106,679.75. The trade was a 3.47 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 34,836 shares of company stock valued at $986,245. Corporate insiders own 24.11% of the company’s stock.

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.