Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Holdings Raised by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership grew its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,071,596 shares of the company’s stock after acquiring an additional 70,964 shares during the period. Artisan Partners Limited Partnership owned 1.13% of Edgewise Therapeutics worth $28,612,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. EFG Asset Management North America Corp. purchased a new position in Edgewise Therapeutics in the fourth quarter valued at about $1,103,000. KLP Kapitalforvaltning AS bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at approximately $182,000. Quantbot Technologies LP acquired a new position in Edgewise Therapeutics in the fourth quarter worth approximately $103,000. Teacher Retirement System of Texas raised its position in Edgewise Therapeutics by 18.9% during the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company’s stock valued at $298,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Intech Investment Management LLC lifted its stake in Edgewise Therapeutics by 75.1% in the fourth quarter. Intech Investment Management LLC now owns 34,844 shares of the company’s stock valued at $930,000 after acquiring an additional 14,944 shares during the last quarter.

Insider Buying and Selling at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $27.37, for a total value of $2,737,000.00. Following the completion of the sale, the insider now owns 14,863 shares in the company, valued at approximately $406,800.31. This trade represents a 87.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Joanne M. Donovan sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $27.63, for a total value of $690,750.00. Following the transaction, the chief marketing officer now owns 16,358 shares in the company, valued at $451,971.54. This represents a 60.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,836 shares of company stock valued at $3,723,245 in the last ninety days. Company insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Performance

NASDAQ EWTX opened at $23.27 on Friday. The stock has a 50-day simple moving average of $26.27 and a 200 day simple moving average of $28.44. Edgewise Therapeutics, Inc. has a twelve month low of $14.90 and a twelve month high of $38.12. The stock has a market capitalization of $2.22 billion, a PE ratio of -15.51 and a beta of 0.22.

Edgewise Therapeutics (NASDAQ:EWTX) last posted its quarterly earnings data 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). As a group, equities research analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Edgewise Therapeutics

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.