Bank of America Corp DE Has $1.31 Million Stock Holdings in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Bank of America Corp DE cut its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 84.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,907 shares of the company's stock after selling 259,144 shares during the quarter. Bank of America Corp DE owned 0.05% of Edgewise Therapeutics worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

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

Edgewise Therapeutics Stock Up 0.1%

EWTX stock traded up $0.02 during mid-day trading on Monday, reaching $15.26. 974,703 shares of the stock traded hands, compared to its average volume of 1,197,708. The firm has a market capitalization of $1.61 billion, a PE ratio of -10.17 and a beta of 0.28. The business has a 50-day moving average of $14.15 and a two-hundred day moving average of $22.80. Edgewise Therapeutics, Inc. has a 52 week low of $10.60 and a 52 week high of $38.12.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EWTX. Guggenheim started coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Scotiabank downgraded Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the company from $50.00 to $14.00 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 research report on Monday, April 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $48.00 price target on shares of Edgewise Therapeutics in a research note on Thursday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $39.78.

Insider Activity

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,551 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 18,521 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, Director Orbimed Advisors Llc acquired 496,771 shares of the firm's stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the acquisition, the director now directly owns 14,809,075 shares in the company, valued at $298,106,679.75. This represents a 3.47% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is owned by company insiders.

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.