Novo Holdings A S Decreases Stock Position in Edgewise Therapeutics, Inc. (NASDAQ:EWTX)

Novo Holdings A S lessened its stake in Edgewise Therapeutics, Inc. (NASDAQ:EWTX - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,000,000 shares of the company's stock after selling 549,900 shares during the period. Edgewise Therapeutics makes up about 8.1% of Novo Holdings A S's holdings, making the stock its 4th biggest holding. Novo Holdings A S owned 5.28% of Edgewise Therapeutics worth $133,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Edgewise Therapeutics Stock Performance

Shares of EWTX traded down $0.37 during trading hours on Monday, hitting $16.54. The company had a trading volume of 707,846 shares, compared to its average volume of 1,156,050. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of -11.03 and a beta of 0.36. The firm has a fifty day moving average price of $19.32 and a 200-day moving average price of $26.20. Edgewise Therapeutics, Inc. has a 52-week low of $10.60 and a 52-week high of $38.12.

Edgewise Therapeutics (NASDAQ:EWTX - Get Free Report) last issued its earnings results on Monday, March 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Research analysts anticipate that Edgewise Therapeutics, Inc. will post -1.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Royal Bank of Canada decreased their price target on Edgewise Therapeutics from $56.00 to $52.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Wedbush reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Edgewise Therapeutics in a research report on Monday, April 21st. Guggenheim initiated coverage on Edgewise Therapeutics in a research report on Wednesday, April 30th. They issued a "buy" rating and a $41.00 target price for the company. Piper Sandler restated an "overweight" rating and set a $51.00 price target on shares of Edgewise Therapeutics in a research report on Wednesday, April 2nd. Finally, Stifel Nicolaus assumed coverage on Edgewise Therapeutics in a research report on Wednesday, January 22nd. They set a "hold" rating and a $30.00 price objective for the company. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $40.22.

Insiders Place Their Bets

In other news, insider Alan J. Russell sold 1,200 shares of Edgewise Therapeutics stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $30.13, for a total transaction of $36,156.00. Following the transaction, the insider now owns 14,863 shares in the company, valued at $447,822.19. This trade represents a 7.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Orbimed Advisors Llc acquired 496,771 shares of Edgewise Therapeutics stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $20.13 per share, with a total value of $10,000,000.23. Following the completion of the purchase, 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. 24.11% of the stock is currently owned by insiders.

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.