Ensign Peak Advisors Inc Buys 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 its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 80,509 shares of the company's stock, valued at approximately $2,150,000. Ensign Peak Advisors Inc owned approximately 0.09% of Edgewise Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of EWTX. Baker BROS. Advisors LP increased its holdings in shares of Edgewise Therapeutics by 5.4% in the fourth quarter. Baker BROS. Advisors LP now owns 6,155,940 shares of the company's stock worth $164,364,000 after purchasing an additional 315,881 shares during the last quarter. Braidwell LP increased its stake in Edgewise Therapeutics by 19.1% during the fourth quarter. Braidwell LP now owns 2,332,196 shares of the company's stock worth $62,270,000 after acquiring an additional 373,886 shares during the last quarter. Deerfield Management Company L.P. Series C increased its stake in Edgewise Therapeutics by 16.7% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 2,078,509 shares of the company's stock worth $55,496,000 after acquiring an additional 297,503 shares during the last quarter. Artisan Partners Limited Partnership boosted its position in shares of Edgewise Therapeutics by 7.1% during the fourth quarter. Artisan Partners Limited Partnership now owns 1,071,596 shares of the company's stock valued at $28,612,000 after buying an additional 70,964 shares during the period. Finally, First Light Asset Management LLC purchased a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $20,843,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus started coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective for the company. Scotiabank lowered Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their price objective for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Piper Sandler reiterated an "overweight" rating and set a $51.00 price objective on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Guggenheim started coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 price objective for the company. Finally, Royal Bank of Canada decreased their price objective on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Edgewise Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $40.22.

Edgewise Therapeutics Trading Up 0.1%

EWTX traded up $0.01 during midday trading on Monday, hitting $14.79. 729,428 shares of the company were exchanged, compared to its average volume of 1,170,442. The company's 50 day simple moving average is $16.96 and its 200 day simple moving average is $24.82. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -9.86 and a beta of 0.36. Edgewise Therapeutics, Inc. has a 1-year low of $10.60 and a 1-year high of $38.12.

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

Insider Buying and Selling

In other news, General Counsel John R. Moore sold 1,930 shares of Edgewise Therapeutics 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 $31,748.50. Following the sale, the general counsel now owns 6,531 shares of the company's stock, valued at approximately $107,434.95. The trade was a 22.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Orbimed Advisors Llc bought 496,771 shares of the business's stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the transaction, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. This trade represents a 3.47% increase in their ownership of the stock. 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.

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.