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

Northern Trust Corp grew its position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 611,306 shares of the company's stock after acquiring 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 institutional investors have also recently bought and sold shares of the company. Diadema Partners LP bought a new stake in shares of Edgewise Therapeutics in the 4th quarter valued at $36,000. Aquatic Capital Management LLC bought a new position in Edgewise Therapeutics in the 4th quarter valued at about $77,000. Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 3,369 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $103,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Edgewise Therapeutics in the fourth quarter valued at approximately $182,000.

Insider Buying and Selling

In other news, General Counsel John R. Moore sold 1,930 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $16.45, for a total transaction of $31,748.50. Following the sale, the general counsel now owns 6,531 shares in the company, valued at $107,434.95. This represents a 22.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan J. Russell sold 1,551 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 18,521 shares in the company, valued at $304,670.45. This represents a 7.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,258 shares of company stock valued at $234,544 over the last three months. Corporate insiders own 23.20% of the company's stock.

Edgewise Therapeutics Price Performance

Edgewise Therapeutics stock traded up $0.06 during mid-day trading on Tuesday, hitting $14.85. The company's stock had a trading volume of 11,797 shares, compared to its average volume of 1,506,819. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of -9.90 and a beta of 0.36. The business has a 50 day moving average price of $16.76 and a 200-day moving average price of $24.69. Edgewise Therapeutics, Inc. has a 12 month low of $10.60 and a 12 month high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.02. On average, equities research analysts expect that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on EWTX. Scotiabank cut shares of Edgewise Therapeutics from a "sector outperform" rating to a "sector perform" rating and decreased their target price for the stock from $50.00 to $14.00 in a research note on Wednesday, April 2nd. Guggenheim initiated coverage on Edgewise Therapeutics in a research note on Wednesday, April 30th. They set a "buy" rating and a $41.00 price target for the company. Royal Bank of Canada lowered 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. Wedbush reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Edgewise Therapeutics in a report on Monday, April 21st. Finally, Piper Sandler reissued an "overweight" rating and set a $51.00 target price on shares of Edgewise Therapeutics in a report on Wednesday, April 2nd. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Edgewise Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $40.22.

Edgewise Therapeutics Company 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.