UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 194,831 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 231.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 279,125 shares of the company's stock after purchasing an additional 194,831 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.29% of Edgewise Therapeutics worth $7,453,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its holdings in shares of Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock valued at $203,000 after acquiring an additional 482 shares in the last quarter. Alliancebernstein L.P. grew 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 valued at $2,063,000 after acquiring an additional 1,300 shares in the last quarter. Diadema Partners LP bought a new position in shares of Edgewise Therapeutics in the 4th quarter valued at about $36,000. Rhumbline Advisers grew its holdings in shares of Edgewise Therapeutics by 1.5% in the 4th quarter. Rhumbline Advisers now owns 102,397 shares of the company's stock valued at $2,734,000 after acquiring an additional 1,525 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Edgewise Therapeutics by 4.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,313 shares of the company's stock valued at $1,103,000 after acquiring an additional 1,595 shares in the last quarter.

Edgewise Therapeutics Stock Performance

Shares of NASDAQ EWTX traded up $0.33 during midday trading on Thursday, reaching $14.82. The company's stock had a trading volume of 699,668 shares, compared to its average volume of 1,191,450. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $38.12. The business's 50 day moving average price is $14.25 and its two-hundred day moving average price is $23.04. The company has a market cap of $1.56 billion, a P/E ratio of -9.88 and a beta of 0.28.

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

Wall Street Analyst Weigh In

EWTX has been the subject of a number of research analyst reports. Scotiabank cut Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and reduced their price target for the stock from $50.00 to $14.00 in a report on Wednesday, April 2nd. Guggenheim initiated coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They set a "buy" rating and a $41.00 price target for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $48.00 price target on shares of Edgewise Therapeutics in a report on Thursday. Piper Sandler reiterated an "overweight" rating and set a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Finally, Wedbush reiterated an "outperform" rating and set a $43.00 price target on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Edgewise Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $39.78.

Insiders Place Their Bets

In other Edgewise Therapeutics news, CMO Joanne M. Donovan sold 5,187 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $85,326.15. Following the sale, the chief marketing officer now owns 21,588 shares of the company's stock, valued at approximately $355,122.60. The trade was a 19.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc acquired 496,771 shares of Edgewise Therapeutics stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average cost of $20.13 per share, for a total transaction of $10,000,000.23. Following the purchase, the director now owns 14,809,075 shares of the company's stock, valued at $298,106,679.75. The trade was a 3.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 14,258 shares of company stock valued at $234,544. 23.20% of the stock is currently owned by insiders.

About Edgewise Therapeutics

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.