JPMorgan Chase & Co. Sells 34,071 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

JPMorgan Chase & Co. lessened its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 124,435 shares of the company's stock after selling 34,071 shares during the quarter. JPMorgan Chase & Co. owned 0.13% of Edgewise Therapeutics worth $3,322,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in EWTX. Quantbot Technologies LP bought a new position in shares of Edgewise Therapeutics during the 4th quarter valued at about $103,000. KLP Kapitalforvaltning AS purchased a new stake in Edgewise Therapeutics in the fourth quarter worth approximately $182,000. AlphaCentric Advisors LLC bought a new position in Edgewise Therapeutics during the fourth quarter valued at approximately $275,000. Teacher Retirement System of Texas raised its stake in shares of Edgewise Therapeutics by 18.9% during the fourth quarter. Teacher Retirement System of Texas now owns 11,143 shares of the company's stock worth $298,000 after acquiring an additional 1,772 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in shares of Edgewise Therapeutics by 11.3% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 20,077 shares of the company's stock worth $536,000 after acquiring an additional 2,042 shares during the last quarter.

Edgewise Therapeutics Stock Down 3.6 %

Shares of EWTX traded down $0.56 during mid-day trading on Friday, hitting $14.84. 1,124,025 shares of the company's stock traded hands, compared to its average volume of 1,149,080. The firm has a market capitalization of $1.55 billion, a P/E ratio of -9.89 and a beta of 0.32. The business's 50-day moving average price is $20.32 and its 200-day moving average price is $26.85. 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 issued its quarterly earnings data on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.03). Sell-side analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Activity at Edgewise Therapeutics

In related news, CMO Joanne M. Donovan sold 25,000 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $27.63, for a total value of $690,750.00. Following the sale, the chief marketing officer now directly owns 16,358 shares of the company's stock, valued at $451,971.54. This represents a 60.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alan J. Russell sold 1,200 shares of the firm's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total value of $36,156.00. Following the transaction, the insider now directly owns 14,863 shares of the company's stock, valued at $447,822.19. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,836 shares of company stock worth $986,245 over the last 90 days. 24.11% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on EWTX shares. Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Edgewise Therapeutics in a report on Monday, April 21st. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They issued a "hold" rating and a $30.00 price objective on the stock. 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. Piper Sandler reaffirmed an "overweight" rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 2nd. Finally, Royal Bank of Canada decreased their target price 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $40.13.

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.