abrdn plc acquired a new stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 150,418 shares of the company's stock, valued at approximately $1,646,000. abrdn plc owned about 0.24% of Edgewise Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. acquired a new position in Edgewise Therapeutics in the fourth quarter valued at approximately $3,586,000. Schonfeld Strategic Advisors LLC lifted its stake in Edgewise Therapeutics by 3.5% during the third quarter. Schonfeld Strategic Advisors LLC now owns 116,900 shares of the company's stock worth $670,000 after purchasing an additional 3,900 shares in the last quarter. Quantum Private Wealth LLC lifted its stake in Edgewise Therapeutics by 2.4% during the fourth quarter. Quantum Private Wealth LLC now owns 63,219 shares of the company's stock worth $692,000 after purchasing an additional 1,500 shares in the last quarter. New York State Common Retirement Fund lifted its stake in Edgewise Therapeutics by 228.6% during the third quarter. New York State Common Retirement Fund now owns 43,871 shares of the company's stock worth $251,000 after purchasing an additional 30,522 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in Edgewise Therapeutics by 59.5% during the fourth quarter. SG Americas Securities LLC now owns 29,826 shares of the company's stock worth $326,000 after purchasing an additional 11,128 shares in the last quarter.
Analysts Set New Price Targets
A number of research analysts have commented on EWTX shares. Piper Sandler started coverage on Edgewise Therapeutics in a research note on Thursday, March 7th. They set an "overweight" rating and a $48.00 price target on the stock. Truist Financial restated a "buy" rating and set a $25.00 price target on shares of Edgewise Therapeutics in a research note on Wednesday, April 17th. Royal Bank of Canada upped their price target on Edgewise Therapeutics from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Monday, April 22nd. Finally, Wedbush reiterated an "outperform" rating and issued a $26.00 price objective on shares of Edgewise Therapeutics in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $31.20.
Read Our Latest Stock Analysis on EWTX
Insider Activity at Edgewise Therapeutics
In related news, General Counsel John R. Moore sold 8,029 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $20.01, for a total value of $160,660.29. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Behrad Derakhshan sold 4,600 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $20.01, for a total value of $92,046.00. Following the transaction, the insider now owns 7,020 shares of the company's stock, valued at $140,470.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel John R. Moore sold 8,029 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $20.01, for a total value of $160,660.29. The disclosure for this sale can be found here. Insiders have sold 30,622 shares of company stock valued at $612,566 over the last quarter. 31.95% of the stock is owned by insiders.
Edgewise Therapeutics Price Performance
Shares of NASDAQ EWTX traded up $0.89 during mid-day trading on Tuesday, hitting $17.94. The company had a trading volume of 536,801 shares, compared to its average volume of 907,375. The company has a market capitalization of $1.67 billion, a PE ratio of -11.35 and a beta of 0.14. Edgewise Therapeutics, Inc. has a 1-year low of $5.12 and a 1-year high of $20.69. The business's 50-day simple moving average is $16.79 and its 200 day simple moving average is $12.55.
Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.03). On average, analysts expect that Edgewise Therapeutics, Inc. will post -1.76 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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