Intech Investment Management LLC Buys 14,944 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Intech Investment Management LLC increased its stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX) by 75.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,844 shares of the company’s stock after buying an additional 14,944 shares during the quarter. Intech Investment Management LLC’s holdings in Edgewise Therapeutics were worth $930,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EWTX. Quest Partners LLC lifted its holdings in shares of Edgewise Therapeutics by 418.7% during the third quarter. Quest Partners LLC now owns 9,035 shares of the company’s stock valued at $241,000 after acquiring an additional 7,293 shares during the period. AlphaCentric Advisors LLC bought a new position in Edgewise Therapeutics during the 4th quarter valued at about $275,000. Orion Portfolio Solutions LLC bought a new position in Edgewise Therapeutics during the 3rd quarter valued at about $347,000. Glenmede Trust Co. NA bought a new stake in Edgewise Therapeutics during the third quarter worth about $483,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Edgewise Therapeutics by 11.3% during the fourth 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 in the last quarter.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other news, insider Alan J. Russell sold 1,200 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $30.13, for a total transaction of $36,156.00. Following the completion of the transaction, the insider now directly owns 14,863 shares in the company, valued at approximately $447,822.19. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Koch sold 8,636 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total transaction of $259,339.08. Following the completion of the sale, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. This represents a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 164,545 shares of company stock valued at $4,605,305 over the last three months. Company insiders own 24.11% of the company’s stock.

Edgewise Therapeutics Stock Down 0.9 %

Shares of EWTX stock opened at $23.61 on Monday. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of -15.74 and a beta of 0.22. Edgewise Therapeutics, Inc. has a 12 month low of $14.90 and a 12 month high of $38.12. The stock has a 50-day moving average price of $26.65 and a 200 day moving average price of $28.40.

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

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.