Edgewise Therapeutics, Inc. (NASDAQ:EWTX) Shares Sold by New Leaf Venture Partners L.L.C.

New Leaf Venture Partners L.L.C. decreased its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 33.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,030,161 shares of the company's stock after selling 523,500 shares during the quarter. Edgewise Therapeutics comprises about 36.8% of New Leaf Venture Partners L.L.C.'s holdings, making the stock its 2nd largest position. New Leaf Venture Partners L.L.C. owned 1.09% of Edgewise Therapeutics worth $27,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of Edgewise Therapeutics by 12.0% during the fourth quarter. Barclays PLC now owns 133,657 shares of the company's stock worth $3,568,000 after purchasing an additional 14,307 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Edgewise Therapeutics by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 7,594 shares of the company's stock worth $203,000 after buying an additional 482 shares during the last quarter. Optimize Financial Inc purchased a new stake in Edgewise Therapeutics in the 4th quarter valued at about $322,000. Kennedy Capital Management LLC increased its stake in shares of Edgewise Therapeutics by 4.2% during the 4th quarter. Kennedy Capital Management LLC now owns 236,642 shares of the company's stock valued at $6,318,000 after acquiring an additional 9,619 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Edgewise Therapeutics by 5.7% in the fourth quarter. Legal & General Group Plc now owns 50,292 shares of the company's stock worth $1,343,000 after acquiring an additional 2,734 shares during the last quarter.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.38 during midday trading on Friday, hitting $13.41. 990,800 shares of the stock were exchanged, compared to its average volume of 1,139,440. The company has a 50 day moving average price of $21.45 and a two-hundred day moving average price of $27.30. The firm has a market cap of $1.40 billion, a P/E ratio of -8.94 and a beta of 0.32. 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 released its quarterly earnings results on Monday, March 3rd. The company reported ($0.42) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.03). As a group, analysts predict that Edgewise Therapeutics, Inc. will post -1.45 EPS for the current year.

Insider Buying and Selling at Edgewise Therapeutics

In related news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $30.13, for a total value of $36,156.00. Following the completion of the transaction, the insider now directly owns 14,863 shares in the company, valued at approximately $447,822.19. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kevin Koch sold 8,636 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $30.03, for a total value of $259,339.08. Following the sale, the chief executive officer now owns 14,478 shares in the company, valued at $434,774.34. The trade was a 37.36 % 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 in the last ninety days. 24.11% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on EWTX shares. Piper Sandler reiterated an "overweight" rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 target price for the company. Royal Bank of Canada cut their price target on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Finally, Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the stock from $50.00 to $14.00 in a research report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $40.38.

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.