EAM Investors LLC Cuts Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

EAM Investors LLC cut its holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 27.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 91,333 shares of the company's stock after selling 33,851 shares during the quarter. EAM Investors LLC owned about 0.10% of Edgewise Therapeutics worth $2,439,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Edgewise Therapeutics during the 4th quarter valued at approximately $103,000. KLP Kapitalforvaltning AS purchased a new position in Edgewise Therapeutics during the 4th quarter worth $182,000. Summit Investment Advisors Inc. lifted its stake in shares of Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock worth $203,000 after acquiring an additional 482 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at about $275,000. Finally, Teacher Retirement System of Texas increased its stake in shares of Edgewise Therapeutics by 18.9% during the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock worth $298,000 after acquiring an additional 1,772 shares during the period.

Insider Activity

In other Edgewise Therapeutics news, Director Orbimed Advisors Llc acquired 496,771 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the transaction, the director now directly owns 14,809,075 shares in the company, valued at approximately $298,106,679.75. This trade represents a 3.47 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan J. Russell sold 1,200 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,836 shares of company stock valued at $986,245 over the last 90 days. Insiders own 24.11% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed an "overweight" rating and issued a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Wedbush reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday. Scotiabank downgraded Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and reduced their target price for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Stifel Nicolaus assumed coverage on shares of Edgewise Therapeutics in a research note on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price target on the stock. Finally, Royal Bank of Canada lowered their target price 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 analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Edgewise Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.13.

Edgewise Therapeutics Stock Performance

NASDAQ:EWTX traded up $0.55 during mid-day trading on Tuesday, hitting $13.85. 216,421 shares of the company's stock traded hands, compared to its average volume of 1,138,077. The firm's 50 day simple moving average is $21.20 and its 200 day simple moving average is $27.20. Edgewise Therapeutics, Inc. has a 1 year low of $10.60 and a 1 year high of $38.12. The company has a market cap of $1.45 billion, a PE ratio of -9.25 and a beta of 0.32.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted 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). On average, research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

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.