Nuveen Asset Management LLC lifted its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 58.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 428,858 shares of the company's stock after buying an additional 158,452 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.45% of Edgewise Therapeutics worth $11,451,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. Diadema Partners LP purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth approximately $36,000. Aquatic Capital Management LLC purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth approximately $77,000. Tower Research Capital LLC TRC increased its position in shares of Edgewise Therapeutics by 1,097.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock worth $98,000 after purchasing an additional 3,369 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth approximately $103,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Edgewise Therapeutics during the fourth quarter worth approximately $182,000.
Analyst Ratings Changes
Several brokerages have issued reports on EWTX. Scotiabank cut Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their target price for the company from $50.00 to $14.00 in a report on Wednesday, April 2nd. Guggenheim began coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 target price for the company. Royal Bank of Canada dropped their target price on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Piper Sandler restated an "overweight" rating and issued a $51.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $40.22.
Read Our Latest Stock Report on Edgewise Therapeutics
Insider Activity
In other news, CMO Joanne M. Donovan sold 5,187 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $16.45, for a total value of $85,326.15. Following the sale, the chief marketing officer now directly owns 21,588 shares in the company, valued at $355,122.60. This represents a 19.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Russell sold 1,551 shares of the company's stock in a transaction on Friday, May 2nd. The shares were 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 $304,670.45. This represents a 7.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock worth $234,544 over the last three months. 23.20% of the stock is currently owned by corporate insiders.
Edgewise Therapeutics Price Performance
EWTX traded down $0.37 during trading on Friday, reaching $14.20. 898,715 shares of the stock were exchanged, compared to its average volume of 1,186,646. The business's 50 day moving average price is $14.89 and its two-hundred day moving average price is $23.38. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of -9.47 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, topping analysts' consensus estimates of ($0.45) by $0.02. On average, analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.
About Edgewise Therapeutics
(
Free Report)
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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