Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 50.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 268,509 shares of the company's stock after selling 277,037 shares during the quarter. Schonfeld Strategic Advisors LLC owned 0.28% of Edgewise Therapeutics worth $7,169,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EWTX. Summit Investment Advisors Inc. lifted its holdings in Edgewise Therapeutics by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock worth $203,000 after buying an additional 482 shares during the period. Alliancebernstein L.P. raised its position in Edgewise Therapeutics by 1.7% during the 4th quarter. Alliancebernstein L.P. now owns 77,260 shares of the company's stock worth $2,063,000 after buying an additional 1,300 shares during the last quarter. Diadema Partners LP purchased a new position in shares of Edgewise Therapeutics during the fourth quarter worth $36,000. Rhumbline Advisers raised its stake in shares of Edgewise Therapeutics by 1.5% during the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock valued at $2,734,000 after buying an additional 1,525 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Edgewise Therapeutics by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 40,170 shares of the company's stock worth $1,073,000 after purchasing an additional 1,760 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EWTX shares. 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, April 3rd. Stifel Nicolaus initiated coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 target price on the stock. Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Piper Sandler reiterated an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.22.

Edgewise Therapeutics Price Performance

Shares of EWTX traded down $2.17 during mid-day trading on Tuesday, reaching $14.38. The stock had a trading volume of 914,380 shares, compared to its average volume of 1,156,357. 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 $1.51 billion, a price-to-earnings ratio of -9.57 and a beta of 0.36. The business's fifty day moving average is $19.14 and its 200 day moving average is $26.06.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings results 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, sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current fiscal year.

Insider Transactions at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,200 shares of the 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 sale, the insider now owns 14,863 shares of the company's stock, valued at $447,822.19. This trade represents a 7.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Koch sold 8,636 shares of Edgewise Therapeutics stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the completion of the transaction, the chief executive officer now owns 14,478 shares of the company's stock, valued at $434,774.34. The trade was a 37.36 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.11% of the company's stock.

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.