Edgewise Therapeutics, Inc. $EWTX Shares Acquired by HighMark Wealth Management LLC

Key Points

• HighMark Wealth Management LLC significantly increased its stake in Edgewise Therapeutics by 31,454.5% during the second quarter, now holding a total of 52,065 shares valued at approximately $683,000.
• Edgewise Therapeutics reported an EPS of ($0.34) for the last quarter, surpassing analysts' expectations by $0.08, while projections for the current year suggest an EPS of ($1.45).
• Analysts are generally optimistic about Edgewise Therapeutics, with one rating it as a "Strong Buy" and others giving it an average price target of $38.83.

HighMark Wealth Management LLC boosted its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 31,454.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 52,065 shares of the company's stock after acquiring an additional 51,900 shares during the quarter. HighMark Wealth Management LLC's holdings in Edgewise Therapeutics were worth $683,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Edgewise Therapeutics by 28.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,062 shares of the company's stock worth $53,000 after purchasing an additional 894 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Edgewise Therapeutics by 55.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,194 shares of the company's stock worth $70,000 after buying an additional 1,141 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Edgewise Therapeutics by 12.3% during the first quarter. Arizona State Retirement System now owns 12,201 shares of the company's stock valued at $268,000 after acquiring an additional 1,338 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Edgewise Therapeutics during the first quarter valued at approximately $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Edgewise Therapeutics by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,776 shares of the company's stock valued at $963,000 after acquiring an additional 2,463 shares in the last quarter.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX opened at $15.00 on Friday. The company has a 50 day simple moving average of $14.44 and a 200-day simple moving average of $14.90. The company has a market capitalization of $1.58 billion, a P/E ratio of -9.68 and a beta of 0.28. 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 released its quarterly earnings data on Thursday, August 7th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.42) by $0.08. As a group, research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insiders Place Their Bets

In other Edgewise Therapeutics news, insider Alan J. Russell sold 100,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $14.60, for a total transaction of $1,460,000.00. Following the completion of the transaction, the insider owned 23,400 shares of the company's stock, valued at $341,640. This trade represents a 81.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel John R. Moore sold 2,098 shares of Edgewise Therapeutics stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.39, for a total transaction of $28,092.22. Following the sale, the general counsel owned 10,214 shares of the company's stock, valued at approximately $136,765.46. This represents a 17.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 116,267 shares of company stock worth $1,677,815. Company insiders own 23.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on EWTX shares. HC Wainwright assumed coverage on Edgewise Therapeutics in a research report on Monday, June 30th. They set a "buy" rating and a $42.00 price target for the company. Royal Bank Of Canada upped their target price on shares of Edgewise Therapeutics from $48.00 to $49.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. JPMorgan Chase & Co. reduced their target price on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating for the company in a research report on Tuesday, August 19th. Raymond James Financial began coverage on shares of Edgewise Therapeutics in a research note on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on shares of Edgewise Therapeutics in a research note on Thursday, September 25th. They set a "neutral" rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $38.83.

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.

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