Vanguard Group Inc. Has $94.48 Million Stock Position in Edgewise Therapeutics, Inc. $EWTX

Key Points

• Vanguard Group Inc. reduced its holdings in Edgewise Therapeutics by 3.9%, now owning approximately 4.29 million shares valued at $94.48 million.
• Edgewise Therapeutics reported an earnings per share (EPS) of ($0.34) for the quarter, exceeding analysts' expectations of ($0.42).
• Multiple brokerages have given Edgewise Therapeutics a "Moderate Buy" rating, with target prices reaching as high as $49.00.

Vanguard Group Inc. reduced its holdings in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 3.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,294,404 shares of the company's stock after selling 172,445 shares during the quarter. Vanguard Group Inc. owned approximately 4.10% of Edgewise Therapeutics worth $94,477,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in shares of Edgewise Therapeutics during the 4th quarter worth approximately $2,845,000. First Light Asset Management LLC bought a new position in shares of Edgewise Therapeutics during the 4th quarter worth approximately $20,843,000. GAMMA Investing LLC grew its stake in shares of Edgewise Therapeutics by 2,243.2% during the 1st quarter. GAMMA Investing LLC now owns 30,954 shares of the company's stock worth $681,000 after acquiring an additional 29,633 shares in the last quarter. Ensign Peak Advisors Inc bought a new position in shares of Edgewise Therapeutics during the 4th quarter worth approximately $2,150,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Edgewise Therapeutics by 231.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 279,125 shares of the company's stock worth $7,453,000 after acquiring an additional 194,831 shares in the last quarter.

Insider Transactions at Edgewise Therapeutics

In other news, General Counsel John R. Moore sold 2,098 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total transaction of $28,092.22. Following the completion of the sale, the general counsel owned 10,214 shares of the company's stock, valued at approximately $136,765.46. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Joanne M. Donovan sold 2,862 shares of Edgewise Therapeutics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.39, for a total value of $38,322.18. Following the sale, the chief marketing officer directly owned 25,361 shares of the company's stock, valued at $339,583.79. This represents a 10.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,267 shares of company stock worth $217,815 over the last ninety days. Corporate insiders own 23.20% of the company's stock.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.30 during mid-day trading on Tuesday, hitting $14.60. 2,235,643 shares of the company's stock traded hands, compared to its average volume of 1,216,879. The firm has a 50 day simple moving average of $13.78 and a two-hundred day simple moving average of $16.96. Edgewise Therapeutics, Inc. has a fifty-two week low of $10.60 and a fifty-two week high of $38.12. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of -9.42 and a beta of 0.26.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.08. On average, research analysts anticipate 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 several research reports. JPMorgan Chase & Co. decreased their price target on shares of Edgewise Therapeutics from $40.00 to $30.00 and set an "overweight" rating for the company in a research note on Tuesday, August 19th. HC Wainwright assumed coverage on Edgewise Therapeutics in a report on Monday, June 30th. They issued a "buy" rating and a $42.00 price objective for the company. Guggenheim assumed coverage on Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Royal Bank Of Canada increased their price objective on Edgewise Therapeutics from $48.00 to $49.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Raymond James Financial assumed coverage on Edgewise Therapeutics in a report on Wednesday, July 30th. They issued a "strong-buy" rating and a $46.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $40.55.

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.