Bamco Inc. NY Makes New $1.60 Million Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Bamco Inc. NY acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 60,000 shares of the company's stock, valued at approximately $1,602,000. Bamco Inc. NY owned about 0.06% of Edgewise Therapeutics as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diadema Partners LP acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $36,000. Aquatic Capital Management LLC bought a new position in Edgewise Therapeutics during the fourth quarter worth about $77,000. Tower Research Capital LLC TRC raised its holdings in Edgewise Therapeutics by 1,097.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock valued at $98,000 after acquiring an additional 3,369 shares in the last quarter. Quantbot Technologies LP acquired a new position in Edgewise Therapeutics in the fourth quarter valued at about $103,000. Finally, KLP Kapitalforvaltning AS bought a new position in Edgewise Therapeutics in the fourth quarter valued at approximately $182,000.

Edgewise Therapeutics Trading Down 0.8 %

EWTX stock traded down $0.12 during trading on Friday, reaching $14.58. The stock had a trading volume of 787,333 shares, compared to its average volume of 1,163,767. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $38.12. The firm has a market cap of $1.53 billion, a PE ratio of -9.72 and a beta of 0.36. The stock's 50 day moving average is $18.45 and its two-hundred day moving average is $25.76.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. On average, research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Kevin Koch sold 4,276 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $70,340.20. Following the completion of the sale, the chief executive officer now owns 20,619 shares of the company's stock, valued at $339,182.55. This represents a 17.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alan J. Russell sold 1,551 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $25,513.95. Following the completion of the transaction, the insider now owns 18,521 shares of the company's stock, valued at $304,670.45. This trade represents a 7.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock valued at $234,544 over the last ninety days. 24.11% of the stock is owned by insiders.

Analysts Set New Price Targets

EWTX has been the subject of several recent research reports. Stifel Nicolaus began coverage on shares of Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Guggenheim assumed coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 price objective on the stock. Finally, Royal Bank of Canada lowered their price objective on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Edgewise Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $40.22.

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.