BNP Paribas Financial Markets Makes New $883,000 Investment in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

BNP Paribas Financial Markets bought a new position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,082 shares of the company's stock, valued at approximately $883,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Light Asset Management LLC bought a new stake in shares of Edgewise Therapeutics in the 4th quarter worth $20,843,000. Amundi grew its holdings in Edgewise Therapeutics by 127.2% during 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 period. Victory Capital Management Inc. bought a new stake in Edgewise Therapeutics in the fourth quarter worth about $576,000. Russell Investments Group Ltd. bought a new stake in Edgewise Therapeutics in the fourth quarter worth about $883,000. Finally, Artisan Partners Limited Partnership lifted its holdings in Edgewise Therapeutics by 7.1% in the 4th quarter. Artisan Partners Limited Partnership now owns 1,071,596 shares of the company's stock valued at $28,612,000 after acquiring an additional 70,964 shares during the last quarter.

Insider Activity at Edgewise Therapeutics

In other Edgewise Therapeutics news, insider Alan J. Russell sold 1,551 shares of Edgewise Therapeutics stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $25,513.95. Following the transaction, the insider now owns 18,521 shares of the company's stock, valued at $304,670.45. The trade was a 7.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin Koch sold 4,276 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $70,340.20. Following the completion of the sale, the chief executive officer now directly owns 20,619 shares of the company's stock, valued at $339,182.55. This trade represents a 17.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,258 shares of company stock valued at $234,544. Company insiders own 23.20% of the company's stock.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.11 during midday trading on Tuesday, reaching $14.32. The stock had a trading volume of 955,353 shares, compared to its average volume of 1,180,088. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -9.55 and a beta of 0.36. The firm's fifty day simple moving average is $15.43 and its two-hundred day simple moving average is $23.87.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Piper Sandler restated an "overweight" rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Scotiabank cut Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price target for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Guggenheim started coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They set a "buy" rating and a $41.00 price objective for the company. Finally, Wedbush restated an "outperform" rating and issued a $43.00 target price on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $40.22.

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.