Ensign Peak Advisors Inc Acquires Shares of 80,509 Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Ensign Peak Advisors Inc bought a new stake in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 80,509 shares of the company's stock, valued at approximately $2,150,000. Ensign Peak Advisors Inc owned 0.09% of Edgewise Therapeutics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Light Asset Management LLC bought a new position in Edgewise Therapeutics during the fourth quarter valued at about $20,843,000. Franklin Resources Inc. boosted its holdings in shares of Edgewise Therapeutics by 84.2% during the third quarter. Franklin Resources Inc. now owns 45,223 shares of the company's stock worth $1,207,000 after purchasing an additional 20,674 shares during the period. Amundi increased its stake in shares of Edgewise Therapeutics by 127.2% in the fourth quarter. Amundi now owns 341,687 shares of the company's stock worth $8,686,000 after acquiring an additional 191,267 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at approximately $576,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $883,000.

Edgewise Therapeutics Stock Down 3.2%

Shares of NASDAQ:EWTX traded down $0.48 during midday trading on Wednesday, reaching $14.39. 149,850 shares of the company were exchanged, compared to its average volume of 1,168,741. The firm has a market cap of $1.51 billion, a PE ratio of -9.60 and a beta of 0.36. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $38.12. The stock has a fifty day simple moving average of $16.55 and a two-hundred day simple moving average of $24.62.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.02. As a group, analysts forecast that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EWTX. Stifel Nicolaus assumed 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 on the stock. Wedbush reiterated an "outperform" rating and set a $43.00 price target 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 note on Wednesday, April 2nd. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Finally, Royal Bank of Canada lowered their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.22.

Insider Buying and Selling at Edgewise Therapeutics

In other news, insider Alan J. Russell sold 1,551 shares of the firm's stock in a transaction dated 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 in the company, valued at $304,670.45. This trade represents a 7.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orbimed Advisors Llc purchased 496,771 shares of Edgewise Therapeutics stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average cost 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 of the company's stock, valued at approximately $298,106,679.75. The trade was a 3.47% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 14,258 shares of company stock worth $234,544. Insiders own 23.20% 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.