Northern Trust Corp Buys 35,426 Shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Northern Trust Corp increased its position in shares of Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 611,306 shares of the company's stock after purchasing an additional 35,426 shares during the period. Northern Trust Corp owned 0.65% of Edgewise Therapeutics worth $16,322,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Diadema Partners LP purchased a new stake in shares of Edgewise Therapeutics in the 4th quarter worth approximately $36,000. Aquatic Capital Management LLC purchased a new stake in shares of Edgewise Therapeutics during the 4th quarter worth approximately $77,000. Tower Research Capital LLC TRC raised its position in Edgewise Therapeutics by 1,097.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,676 shares of the company's stock valued at $98,000 after purchasing an additional 3,369 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Edgewise Therapeutics during the 4th quarter worth $103,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Edgewise Therapeutics in the 4th quarter valued at about $182,000.

Wall Street Analyst Weigh In

EWTX has been the topic of several research reports. Piper Sandler restated an "overweight" rating and issued a $51.00 price target on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Scotiabank lowered shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Royal Bank of Canada decreased their price objective on shares of Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Guggenheim initiated coverage on shares of Edgewise Therapeutics in a report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 price objective for the company. Finally, Wedbush reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Edgewise Therapeutics in a report on Monday, April 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Edgewise Therapeutics has an average rating of "Moderate Buy" and an average price target of $40.22.

Edgewise Therapeutics Price Performance

Shares of NASDAQ EWTX traded up $0.01 during trading hours on Monday, reaching $14.79. The stock had a trading volume of 320,726 shares, compared to its average volume of 1,168,872. The business's fifty day moving average is $16.96 and its two-hundred day moving average is $24.82. The company has a market cap of $1.56 billion, a price-to-earnings ratio of -9.84 and a beta of 0.36. Edgewise Therapeutics, Inc. has a twelve month low of $10.60 and a twelve month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last announced its 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.

Insider Buying and Selling

In other news, insider Alan J. Russell sold 1,551 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $16.45, for a total transaction of $25,513.95. Following the completion of the transaction, the insider now directly owns 18,521 shares in the company, valued at approximately $304,670.45. The trade was a 7.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Orbimed Advisors Llc acquired 496,771 shares of the business's stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average price of $20.13 per share, for a total transaction of $10,000,000.23. Following the acquisition, the director now directly owns 14,809,075 shares in the company, valued at $298,106,679.75. This represents a 3.47% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 14,258 shares of company stock worth $234,544 over the last three months. 23.20% of the stock is currently owned by company 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.